Inheritance Tax planning

Wills are an essential element of any Inheritance Tax (IHT) planning scheme. They can ensure efficient use of allowances and exemptions and create legacies to trusts which maximise the benefits of Business Property Relief (BPR) and Agricultural Property Relief (APR).

Whatever your circumstances, we will have a solution to reduce your tax exposure.

Inheritance Tax planning starts with a professionally drafted will

Good Inheritance tax planning should always start with a thorough review of your will – by getting the basic structure in place your plans will have the greatest chance of success.

If your estate exceeds £325,000 your estate may be subject to Inheritance Tax. Subject to certain conditions, married couples and civil partners may be able to make use of a transferrable allowance and qualify for an exemption of up to £650,000. Above these levels tax is charged at 40% and will significantly reduce the amount you can pass on to your beneficiaries.

We will look at the composition of your estate and come up with practical proposals to reduce your tax exposure.

We will:

  • Consider the available allowances
  • Ensure you stand the best chance of qualifying for any exemptions and reliefs
  • Produce tax efficient Wills
  • Consider opportunities for lifetime gifting to either individuals or trusts
  • Discuss deeds of variation and any domicile issues

Choose Furley Page for Inheritance Tax planning

We have been advising on this type of work for generations and keep up to date with changes in the law so that we stay abreast of any developments.

We have specialists in trusts and tax who can help you after your will has been prepared to ensure we offer continuity of advice.

Our expertise in advising on wills, succession planning and asset protection has been recognised by The Legal 500 and Chambers HNW, independent guides to the legal profession.

Many of our team are members of the Society of Trust and Estate Practitioners (STEP).

Contact Aaron Spencer or Sarah Cladingboel to find out how we can help you.

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