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

Kevin Grant

Solicitor & Director

Kevin qualified as a solicitor in 2003 and is a Director at Harland & Co. He has many years experience of dealing with civil litigation and provides advice and assistance to clients who are involved in bringing or defending Court Claims. He also has a substantial Private Client caseload dealing with Will drafting, Powers of Attorney, Court of Protection matters and the the Administration of Estates. More about Kevin Grant
Elizabeth Dunn
Elizabeth is a private client solicitor who has joined Harlands in 2023. Elizabeth deals with the drafting of Wills, Lasting Powers of Attorney and assists clients in the administration of deceased estates. More about Elizabeth Dunn