Inheritance Tax Planning

Passing on more of what you’ve worked for to the people you love.

Most of us want the same thing in the end: for as much as possible of what we’ve worked for to reach the people we love, rather than being lost to tax or tied up in complications. Inheritance tax and estate planning are really just about making that happen — thinking ahead and putting the right arrangements in place while you can.

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How we can help with inheritance tax planning.

The right combination depends entirely on your circumstances, so we always start by listening. From there we’ll suggest what fits your family and explain each part in plain English — never jargon.

IHT mitigation strategies

We look at your whole estate and the allowances available to you, including the nil-rate band and the extra allowance for a home passing to children, so more of it reaches your family.

Lifetime gifting advice

Guidance on gifts you can make now, the annual exemptions, potentially exempt transfers, and who would be liable for any tax, so you can give with confidence.

Estate & succession planning

Wills, trusts for children or grandchildren, and, if you own a business, succession planning to protect what you’ve built and pass it on smoothly.

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What inheritance tax means for your estate

Inheritance tax is the tax that may be due on your estate when you die. Everyone has a tax-free allowance, known as the nil-rate band, which is currently £325,000 per person. Married couples and civil partners can combine their allowances, and an additional allowance may apply where a home passes to children or grandchildren, so the threshold for your estate could be higher. Anything above the allowance is generally taxed, which is why a little planning can make a real difference to what your family eventually receives.

Start with a valid will

The foundation of any plan is a valid, up-to-date will, and making sure those close to you know where to find it. Without a will, your estate is shared out under the rules of intestacy — a strict legal order that may not reflect your wishes at all. An unmarried partner, for example, could receive nothing, however long you’ve been together.

Ways to plan ahead

Beyond a will, there are many ways to plan effectively, and the right combination depends on your circumstances. We advise on lifetime gifts and the annual exemptions available, on potentially exempt transfers and who would be liable for any tax on a gift, and on using trusts to provide for your family in a tax-efficient way. We can also help reduce tax even after someone has died, including by rewriting a will through a Deed of Variation where that’s appropriate.

Estate planning looks at the wider picture, and goes hand in hand with making a will. It might involve lifetime giving, setting up trusts for children or grandchildren, or thinking about how assets pass between the generations. If you own a business, it can also mean succession planning and protecting your business interests. What works well for one family won’t necessarily suit another, which is why we always start by listening.

Straightforward advice from a local team

Our private client team has guided generations of local families through tax planning, and we’ll always give you straightforward, practical advice rather than jargon. You can read more on our Wills & Estate Planning and Trusts pages, and our charges are set out on the fees page. If you’d like to plan ahead, or simply understand where you stand, get in touch and we’ll take the time to understand what matters most to you.

Coming to you

We know that not everyone is able to visit us in an office, and some conversations are better had in a familiar and comfortable setting. Our team regularly visits clients at home, in care homes and in hospital; something many firms simply don't offer.

Our offices are in Lowestoft, Norwich and Great Yarmouth, and we work with clients across East Anglia and beyond.

Not sure where to start? Get in touch and we'll help you work out what you need. There's no pressure and no jargon, just clear, honest advice from people who genuinely care about getting it right for you.

Transparent about fees.

Inheritance tax planning is different for everyone, so we're upfront about how we charge. We'll explain our fees clearly at the outset, before any work begins.

Before any work begins, we'll give you a clear written estimate setting out our fees and any disbursements, so you know exactly where you stand. If anything changes the likely cost, we'll talk it through with you before going any further.

View our private client fees