Inheritance Tax is a tax on the estate (the property, money and possessions) of a person who has died.

Normally there’s no Inheritance Tax to pay if:

• the value of your estate is below the £325,000 threshold
• you leave everything above the £325,000 threshold to your spouse, civil partner, or a charity
• the threshold is increased by up to an extra £175,000 if you own a home and leave it to your descendants

The current standard Inheritance Tax rate is 40% and is only charged on the part of your estate that’s above the threshold.

Learn about Inheritance Tax in this short explainer video:

Services:

David Whitworth is highly experienced in advising on Inheritance Tax. He and his team will advise you of your current Inheritance Tax potential liability and explain what you can do to minimise this by taking advantage of permitted tax reliefs and allowances. This could involve making a new will or setting up trusts.

Process:

1. We will establish from you the size and nature of your estate
2. We will advise you on what you can do to mitigate Inheritance Tax
3. We will be happy to assist you in implementing tax mitigation strategies including producing any necessary documents