Inheritance Tax Planning is all about passing as much of your estate as possible onto your loved ones and can be a big burden for many people, not just those with large estates. It is payable on everything you have of value when you die; usually payable on death, but there are certain circumstances when it becomes payable earlier. Without the right Inheritance Tax planning in place you could pass on just 60% of your wealth to your loved ones with the Government taking 40%.

Making provisions for your loved ones after you’re gone is a fundamental part of managing your estate and assets. People often pay more tax than they need to, but we could help you to make the most of the available reliefs and allowances on savings, investments and pensions. By taking the right action and making sure it is managed correctly you could reduce the value of your estate, and in turn, any future Inheritance Tax bill. Inheritance Tax can be complex so it’s vital to plan ahead and ensure arrangements you make are flexible as you may need to change these in the future should circumstances change.

Our Independent Financial Advisers can recommend the most tax-efficient ways to plan your finances. Our advice will take into account your situation and will cover tax issues such as:

  • Tax relief on pension savings
  • Capital Gains Tax on investments
  • The best way to manage Inheritance Tax
  • Other tax efficient options including ISAs

There are a number of solutions which can be used to help mitigate Inheritance Tax, each may differ depending on your individual circumstances:


You’re allowed to make a number of small gifts each year which, when managed correctly, help reduces the value of your estate. If you make larger gifts, known as Potentially Exempt Transfers, you could have to pay Inheritance Tax on their value if you die within seven years.

A Will

A professionally drawn Will is the foundation of Inheritance Tax planning. If a person dies without their Will in place their spouse or partner could eventually receive most of the estate, but not all of it; which may result in your loved ones not benefiting from your estate as you wished.


Setting up Trusts can be flexible and a tax effective way to provide for your loved ones. When looking to ensure they receive a pay-out as soon as possible, a Trust could be worth considering. Moving part of your wealth into a Trust can help reduce Inheritance Tax.

Life Cover

If you don’t want to give away your assets while you’re still alive you may want to consider taking out a life insurance policy to pay part or all of a potential Inheritance Tax bill.

Charity Donation

Leaving a contribution of your estate to charity can reduce your Inheritance Tax. It means that the donation wouldn’t count towards the total taxable value of your estate.