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Inheritance Tax Planning

Specialist inheritance tax planning solicitors for IHT minimisation, estate planning and tax-efficient wealth transfer strategies.

500+ Inheritance Tax Planning Specialists
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All inheritance tax planning work handled by fully SRA regulated solicitors and law firms.

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No hidden costs. Clear inheritance tax planning pricing up to 50% cheaper than high street firms.

Inheritance Tax Planning Experts

Matched with specialist inheritance tax planning solicitors with proven track records.

What is Inheritance Tax Planning?

Inheritance Tax Planning Solicitors | IHT Advice | SolicitorConnect

Inheritance tax can significantly reduce the wealth you pass to your loved ones, but proper planning can legally minimise or even eliminate your IHT liability. Our specialist inheritance tax solicitors provide expert guidance to protect your family's financial future through effective estate planning strategies.

What Our Inheritance Tax Planning Solicitors Can Help With

  • IHT Assessment: Calculating your potential inheritance tax liability
  • Estate Planning: Comprehensive strategies to minimise IHT
  • Trust Structures: Tax-efficient trust planning for wealth preservation
  • Gift Planning: Strategic lifetime giving to reduce estate value
  • Business Property Relief: Maximising IHT reliefs for business assets
  • Agricultural Relief: IHT planning for farming and rural property
  • Charitable Giving: Tax-efficient charitable legacy planning
  • International Estates: Cross-border inheritance tax planning

Understanding Inheritance Tax

Current IHT Rules (2024/25):

  • Nil-rate band: £325,000 per person
  • Residence nil-rate band: £175,000 (for family homes)
  • Combined allowance for couples: Up to £1 million
  • IHT rate: 40% on estates above threshold
  • Reduced rate: 36% for estates leaving 10%+ to charity

Inheritance Tax Planning Strategies

Lifetime Planning:

  • Annual Exemptions: £3,000 per year gift allowance
  • Potentially Exempt Transfers: Seven-year rule for larger gifts
  • Trust Planning: Moving assets into tax-efficient trusts
  • Business Investment: Qualifying for business property relief
  • Pension Planning: Maximising pension death benefits

Will-Based Planning:

  • Nil-Rate Band Trusts: Preserving both spouses' allowances
  • Charitable Legacies: Reducing IHT rate through charitable giving
  • Life Interest Trusts: Providing for spouse while preserving capital
  • Flexible Trusts: Adaptable structures for changing circumstances

Why Choose SolicitorConnect for Inheritance Tax Planning

  • IHT Specialists: Solicitors focusing on inheritance tax and estate planning
  • Tax Efficiency Focus: Maximising wealth preservation legally
  • Family-Centred Approach: Understanding your family's unique needs
  • Long-term Relationships: Ongoing support as circumstances change
  • Multi-generational Planning: Strategies spanning multiple generations
  • Collaborative Approach: Working with your existing advisors

Effective inheritance tax planning can save your family hundreds of thousands in tax while ensuring your wealth transfers according to your wishes.

This information is for general guidance only and does not constitute legal advice. For specific legal advice tailored to your estate planning situation, please consult with a qualified inheritance tax solicitor.

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Frequently Asked Questions

Common questions about inheritance tax planning and how our solicitors can help

Inheritance tax (IHT) is charged at 40% on estates exceeding £325,000 (nil-rate band), with an additional £175,000 residence nil-rate band for family homes. Combined, couples can pass up to £1 million tax-free. IHT is payable on death and on certain lifetime transfers. Professional planning can legally minimise or eliminate IHT liability.

Legal IHT reduction strategies include: utilising annual gift exemptions (£3,000 per year), making potentially exempt transfers with seven-year survival, using business property relief and agricultural relief, charitable giving (reducing rate to 36%), trust planning, and maximising nil-rate band usage. Professional advice ensures optimal planning for your circumstances.

Main IHT reliefs include: business property relief (up to 100% for qualifying businesses), agricultural property relief (up to 100% for farms), spouse exemption (unlimited transfers between spouses), charity exemption (100% relief for charitable gifts), and annual exemptions. Professional advice ensures you qualify for and maximise available reliefs.

Trusts can be highly effective for IHT planning, allowing you to: remove assets from your estate while retaining some control, provide for beneficiaries while preserving capital, utilise multiple nil-rate bands, and create flexible structures for changing circumstances. However, trust taxation is complex, requiring professional advice to ensure effectiveness and compliance.

The seven-year rule applies to potentially exempt transfers (PETs) - gifts to individuals that become exempt if you survive seven years. If you die within seven years, IHT may be payable on a sliding scale: years 0-3 (40%), years 3-4 (32%), years 4-5 (24%), years 5-6 (16%), years 6-7 (8%). Professional planning optimises the timing and structure of gifts.

Yes, family business IHT planning can be very effective using business property relief, which provides up to 100% IHT relief for qualifying business assets. This includes shares in trading companies and business property. Professional planning ensures your business qualifies for relief and structures succession to maximise tax efficiency while preserving business continuity.

Start IHT planning as early as possible, ideally in your 50s or when your estate approaches the IHT threshold. Early planning allows maximum use of exemptions, time for gifts to become potentially exempt, and flexibility to adapt strategies. However, it's never too late to start - even last-minute planning can achieve significant savings with professional advice.

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How SolicitorConnect Works

Getting inheritance tax planning help has never been easier. Our simple process connects you with the right legal expertise.

1

Describe Your Inheritance Tax Planning Need

Tell us about your inheritance tax planning situation and requirements using our simple enquiry form.

2

Get Matched with Specialists

We connect you with qualified inheritance tax planning solicitors who have the right expertise for your case.

3

Compare Quotes & Choose

Review proposals from multiple solicitors and choose the one that's right for you and your budget.

4

Get Expert Legal Help

Work directly with your chosen inheritance tax planning solicitor to resolve your legal matter successfully.

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