Inheritance Tax Planning
What is Inheritance Tax (IHT)?
Thresholds and Rates:
IHT is a tax paid on the value of an estate that passes on death, minus any reliefs and exemptions you may qualify for. This fact sheet will give you a clear picture of what that means for you.
There's a good chunk of your estate that's typically free from IHT. The current threshold for Inheritance Tax is £325,000, known as the "nil-rate band." This means the first £325,000 is typically free from IHT.
If your estate's net value after reliefs and exemptions exceeds this amount, IHT applies at a rate of 40% on anything above that threshold.
Reducing your Inheritance Tax Bill
We understand navigating Inheritance Tax (IHT) can feel a little overwhelming. The good news is there are several ways you can potentially reduce your IHT liability. Download our guide which aims to simplify things, explain key points, and show you how we can help ensure your wishes are met.