Inheritance Tax Planning Specialists
Avoid paying tax again on wealth you've accumulated and been taxed on already!
Effective inheritance and tax planning ensures a smooth transfer of assets to the next generation while minimising your tax liabilities. Our specialist inheritance tax planning accountants provide tailored advice and strategies to reduce the tax due on your estate.
Inheritance Tax Planning Accountants
We offer numerous inheritance tax planning services, including:
- Estate planning when assets are close to the nil rate band or are many times larger
- Techniques to mitigate inheritance tax on family homes, family businesses and investment portfolios
- Advice on lifetime transfers and Wills.
Estate planning is not solely about reducing inheritance tax. Here at Hartley Fowler, we take a practical approach to inheritance and tax planning, ensuring your financial needs are met during your lifetime while helping you avoid giving away too much too soon.
Our Inheritance Tax Planning Services
Our inheritance tax planning advisors provide expert services to help limit the amount of inheritance tax your family and other loved ones will have to pay from your estate.
Key examples of inheritance tax planning include:
- Gifting money
- The use of trusts
- An inheritance tax efficient fund.
Our knowledgeable inheritance tax planning specialists are here to help you plan for the future, enabling you to pass on as much as possible to your nominated beneficiaries.
Next Step: Call our Inheritance Tax Planning Specialists
Please contact us if you have any questions about our inheritance tax planning services. Alternatively, please get in touch to request an initial free consultation.
FAQs
Inheritance Tax (IHT) is a tax on the estate of someone who has passed away, including all property, possessions and money. This reduces the total value passed to your beneficiaries.
Inheritance tax and estate planning involve organising your financial affairs to minimise the amount of IHT that will be due on your estate when you pass away. The goal is to maximise the value of the estate that can be passed on to beneficiaries.
For IHT planning advice, please contact our dedicated team of inheritance tax planning accountants today.
In the current tax year, 2024/25, IHT is applied to estates worth over £325,000.
IHT is usually charged at the rate of 40% on anything that exceeds the £325,000 threshold.
If you’re applying for probate, you’ll need to calculate the value of the deceased person’s estate, including all money, property and possessions. This determines if IHT is payable and helps calculate the amount due.
For large estates, this process may take several months. You need to submit the estate value forms within one year of death and begin paying the tax six months after the person’s passing.
Once the estate value is calculated, exempt items are deducted to see if the taxable amount exceeds the threshold.
You may qualify to pay inheritance tax at a reduced rate of 36% if you leave at least 10% of your estate to charity.
Your inheritance tax bill will be paid by the person managing the estate, typically called the ‘executor’ if there is a will. Your beneficiaries do not usually pay tax on the things they inherit.
Yes. Our inheritance tax planning accountants can support you by assessing your position to reduce potential liabilities and maximise the value passed to your beneficiaries.
To find out more about our outstanding inheritance tax planning services, please get in touch.
Usually, the person named in the will, often a trusted close relative, is responsible for calculating inheritance tax and managing the estate. If there’s no will, the estate administrator appointed by the court takes on this role.