Inheritance Tax Planning

What will your legacy look like?

Inheritance tax doesn't affect everyone, but we can help you plan to reduce the burden on your estate.

Planning Ahead for Inheritance Tax

You’ve worked to create a legacy for the people you care about. But now its time to make plans so your loved ones can get the most from the estate you intend to leave behind.

Our inheritance tax advice and planning is there to help you get ready ahead of time. Making the right moves early could help you reduce the tax bill on the money and property you provide for the people who mean the most.

Inheritance tax doesn’t just affect the wealthy. Your estate is made up of more than just your home; from property to savings, to cars and antiques. If all these assets have a combined value of more than £325,000, your estate may be liable to foot the bill.

We’ve been helping people plan their financial futures for the last 30 years. Our expert advisors can support you in creating a solution that works for you.

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Have a chat with us to find out if you might benefit from financial advice. We'll get to understand you and your goals. If we both agree financial advice is suitable for you, we'll book you an appointment with one of our advisers.

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0800 731 5342

Alternatively you can request a call back or you can find out more about our video appointment service.

What could our advice do for you?

Our inheritance tax planning helps you sort your assets, calculate how much tax you’re likely to pay and see if you can reduce the bill by gifting early.

Our team of expert financial advisors talk about your needs and the needs of your loved ones before creating a unique financial plan. After that no-obligation plan is created, we’ll work with you to decide how much help you need in putting this into action.

If you’re looking to find out how much inheritance tax you might have to pay and how you might be able to reduce that figure, you've come to the right place. With a face to face video conversation via Skipton Link, we can talk you through your options and give you the information you need to know.

Video appointment service

Skipton Link is our video appointment service which gives you the opportunity to have a face to face appointment without having to leave your home.

Video appointment service

Three pillars of planning

No pressure promise

We’ll never push you into taking up a recommendation or service you don't want or need.

No implementation no charge

You'll only be charged if you decide to implement your financial plan

Financial planning experts

Your adviser will discuss with you your current lifestyle and financial situation, and build a plan tailored to your needs

Important things to get your head around

Inheritance tax thresholds

The current threshold for paying inheritance tax is £325,000. However, if you’re giving your home away to children or grandchildren, you may qualify for the residence nil-rate band. That means your threshold increases by a further £175,000*. It’s always worth checking with a expert adviser to see if you’re eligible for the residence nil-rate band.

If you’re in a couple, you’ll each get the £325,000 allowance, plus the increased threshold if applicable, so your combined allowance could reach £1,000,000.

*This is intended to increase in line with the Consumer price index from 2021/22 onwards.

Inheritance tax gifting

Giving parts of your estate to people as gifts before you die can help ease the tax bill on their inheritance. But there are some rules you need to abide by. For instance, gifts to your spouse, gifts under £250, donations to qualifying charities and wedding gifts are usually exempt, but there are exceptions. For assets that aren’t exempt, you may need to give your gifts at least 7 years before you die.

For more information on inheritance planning and gifting, take a look at this article we wrote on inheritance tax gifts.

Important information

The Financial Conduct Authority (FCA) does not regulate Trust planning, Will writing and most forms of inheritance tax planning.

Some IHT planning solutions put your capital at risk so you may get back less than you invested. IHT thresholds depend on your individual circumstances and prevailing legislation, both may change in the future.

Next Steps

If you’re thinking about inheritance Tax planning, or you’d like to know more, we can have a no obligation conversation to discuss your options. Book an online video appointment today or request a callback to discuss your options.

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Skipton Link

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Frequently Asked Questions

The amount you pay will depend on the value of your estate when you die. The standard rate for paying inheritance tax is at 40%. Our expert inheritance tax planning advisers could help you work out what the tax charge could potentially be on your estate.

The first step is to have a plan in place. There are ways to reduce the tax paid on your inheritance through processes like early gifting. But these won’t work if you leave it too late. With our inheritance tax advice and inheritance planning, we can help you look ahead and get your plan ready.

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