Inheritance Tax Planning

Specialist advice could help you find ways to reduce inheritance tax (IHT).

Inheritance tax could be payable on the portion of your estate worth over a certain threshold. Everything you own – from your home and savings to other items like cars, jewellery and investments minus any debts – contributes to the value of your estate. It’s possible your home on its own could exceed current tax-free thresholds, which are:

  • up to £325,000 (if you’re single or divorced)
  • up to £650,000 (if you’re married, in a civil partnership or widowed).

Main residence nil-rate band: will it help you?

Since April 2017, HM Revenue & Customs has gradually started to introduce an additional new ‘main residence nil-rate band'. This is worth £125,000 per person for the 2018/19 tax year, and will be worth up to £175,000 per person by 2020. However, there will be a number of restrictions over how this allowance can be used, so not everyone can benefit.

IHT Planning for inheritance tax

How to plan for IHT

You can make an appointment with us for IHT planning, which can take place either in branch or at your home. We'll take the time to learn about your circumstances, make personalised recommendations and won’t pressure you into making a decision.

Read more on our Financial Advice website

Make or update your Will

Writing your Will is an essential part of protecting your legacy and, with expertise, can help reduce the amount of IHT payable. It also provides additional security for your spouse, partner and children, and makes sure your wishes are known.

Find out about Will writing


Financial advice knowledge centre

We share interesting and useful information about inheritance tax and other personal finance topics on our financial advice knowledge centre. As well as articles, we publish features with tips and downloadable factsheets.

Read more articles


Some areas of Inheritance Tax (IHT) Planning are not regulated by the Financial Conduct Authority. Some IHT planning solutions put your capital at risk so you may get back less than you originally invested. IHT thresholds depend on your individual circumstances and prevailing legislation, both of which may change in the future.

Version Info: