Inheritance Tax Planning

Inheritance Tax (IHT) is a tax on the value of your estate (everything you own) at death, it may also be payable on lifetime gifts, and even on an on-going basis, for example in the case of discretionary trusts.  On death, Inheritance Tax is currently charged at 40% to the extent that an individual's total savings and assets exceed the “Nil Rate Band”.

We can advise you about IHT reliefs and exemptions, such as:

  • The Nil Rate Band
  • Spouse Exemption and the Transferable Nil Rate Band
  • Annual Exemption
  • Business Property Relief
  • Agricultural Property Relief
  • Woodlands Relief
  • Normal gifts out of Income

HMRC have becoming increasingly strict when vetting claims for IHT exemptions and reliefs. Nevertheless, with expert advice and planning it is possible to reduce exposure to IHT through a variety of different tax mitigation techniques, including making gifts to family members and trusts or investing in “IHT friendly” assets. We are experienced in providing IHT advice of all kinds, including to those with high net worth and complex estates.

Our specialists can help you:

  • Calculate and reduce your IHT liability
  • Draft a tax efficient Will
  • Prepare and submit IHT Returns
  • Maximise all reliefs and benefits

To find out more, contact our experienced team for clear advice and guidance.

Our Inheritance Tax Planning Team

Stephen Morgan

Director

Stephen is a director who joined Harland & Co in 2002. He was previously a partner and head of Private Client in a practice based in Solihull in the West Midlands specialising in estate planning and estate administration for high net worth individuals and prior to that was an associate with both a Legal 500 firm and a niche elderly client law practice. He is a Registered Trust and Estate practitioner and a member of both Solicitors for the Elderly (SFE) and the Law Society’s Private Client Section
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Sian Foster

Solicitor

Siân studied at the University of York and the York College of Law before joining Harland & Co in September 2005 as a trainee solicitor. She is now part of our private client team and deals with applications for probate and the administration of estates, the preparation of wills and powers of attorney, deputyship matters and trusts. She has a particular interest in Court of Protection matters. She also assists the clerk of a local charity.
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