Estate and Tax Planning

Inheritance tax is a tax on the estate (property, money, and possessions) of someone who has died. If your estate is valued at £325,000 or more, you are likely to have to pay inheritance tax unless:

You leave everything to your spouse/civil partner in your will

Gifts made between husband and wife or between civil partners are exempt from inheritance tax.

Since October 2007, spouses and civil partners are able to transfer any unused portion of their nil-rate band to each other on death. This means that if you have been widowed, you could leave an estate of up to £650,000 without any inheritance tax being payable.

You donate the estate in its entirety to a charity or amateur community sports club

Normally, everything above the threshold of £325,000 will be taxed at 40%. However, our expert team can advise as to how the amount you need to pay can be reduced through tax planning.