Personal Life

Inheritance Tax Planning

If your estate is likely to be subject to Inheritance Tax, we can help you structure your assets to ensure that you are making the best use of available exemptions, reliefs and tax planning opportunities, in order to protect your estate for the future.

Estates that pass on to spouses, civil partners or charities are exempt from IHT, even if the value of such estates is higher than the threshold limits. Estates that pass on to anyone else, including siblings, children and grandchildren attract IHT. The law nevertheless allows various exemptions from IHT such as the nil rate band, business property relief. It is also possible to mitigate IHT, for example by making gifts. Proper awareness of such exemptions and sound IHT planning makes it possible to reduce significantly or even avoid having to pay IHT. Here at Mowbray Woodwards we have the expertise to help you mitigate your inheritance tax liability. 

We can also help you arrange a Deed of Variation if you are concerned about receiving an inheritance from someone’s estate that will increase your inheritance tax liability. A Deed of Variation must be made within two years of the date of death so advice should be taken as quickly as possible if you think this might apply to you.

We offer an Inheritance Tax consultation for £295 (including VAT). At the first meeting we will listen to you situation and any concerns you have, explain your options, and provide an estimate of the costs and timescales involved. The amount of information in the first meeting can be overwhelming so we will send you a letter of advice afterwards, which clearly sets out everything we discuss and is included in the consultation fee.

Find out more from our guide below, or to make an appointment with our specialist team call 01225 485700 or email hello@mowbraywoodwards.co.uk

Your patience and ability to explain the situation in plain terms was much appreciated!

You understood my intentions well and had good suggestions - it was good to have you on side.

Personal Life Services

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