Inheritance Tax Planning advice

Inheritance tax is a tax on the estate and includes the property, money and possessions of someone who’s died. UK Wills and Estate Planning provide qualified and expert advice on inheritance tax planning. It can be a complex area and we ensure you make the right decision.

There’s normally no Inheritance Tax to pay if:

  • the value of your estate is below the £325,000 threshold
  • you leave everything to your spouse or civil partner, a charity or a community amateur sports club

If you’re married or in a civil partnership and your estate is worth less than £325,000, you can transfer any unused threshold to your partner when you die. This means their threshold can be as much as £650,000.

Inheritance Tax rates

Inheritance Tax is charged on your estate at 40%.

The estate can pay Inheritance Tax at a reduced rate of 36% on some assets if you leave 10% or more of the ‘net value’ to charity in your will.

If Inheritance Tax on gifts is due, it’s charged on a sliding scale known as taper relief.

Inheritance Tax reliefs, eg Business Relief, allow some assets to be passed on free of Inheritance Tax or with a reduced bill.

Contact the probate and Inheritance Tax helpline if your estate includes a farm or woodland.

Careful planning when constructing your will can help to reduce the amount of tax you may have to pay when you are no longer around.