Inheritance Tax (IHT) Planning

 Inheritance Tax Excemptions & Reliefs

Inheritance Tax Planning | Estate Planning | Trusts | Wills

How to Plan for Inheritance Tax (IHT Planning)

Make a Will

Ensure your wishes are clearly outlined in your will, so your estate is distributed exactly as you intend. Without a will, your assets may not go to the people you want, and your loved ones could face legal complexities or unexpected tax burdens. Making a will gives you peace of mind, protects your family’s future, and ensures everything is handled according to your wishes.

Consider Trusts

Placing assets in a trust can help protect them from Inheritance Tax (IHT), ensuring they are managed and distributed according to your wishes. By using trusts, you can control how your wealth is passed on, potentially reduce tax liabilities, and provide financial security for future generations.

Regularly Review 
Your Estate:

Life events such as marriage, divorce, the birth of children, or even the death of a loved one can significantly impact your estate plan. It’s important to regularly review and update your plan to reflect these changes, ensuring that your wishes remain accurate and your loved ones are protected.

How Can I Reduce My IHT bill?

The main approach to IHT mitigation is to reduce the value of your estate over a number of years. The smaller your estate when you die, the less your IHT bill is likely to be.

Understanding and planning for Inheritance Tax (IHT) is crucial for protecting your family's financial future. By taking proactive steps, you can ensure that more of your estate is passed on to your loved ones rather than going to the taxman.