Independent Financial Advisers

01264 332334


Get in touch with us today by phoning .....

01264 332334

or email us at .....

or visit us at

Oliver House, 40a High Street, Andover SP10 1NF

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Inheritance Tax Planning


Let’s dispel a myth right here and now. You don’t have to be super rich for your estate to be subject to Inheritance Tax (IHT) after you die. Currently IHT is levied on everything you leave above £325,000. There is an additional £175000 potentially available to property owners Residence Nil Rate Band

This includes more than just your home but also the following items which can quickly add up:

  • Your investments and savings
  • Your car
  • Your furniture and personal effects
  • The proceeds of your life insurance
    (unless written in trust)

The rate of IHT is 40% for everyone. The tax is paid by those that inherit – and is deducted from the estate on death – so Inheritance Tax is relevant whether you stand to gain an inheritance or you plan to leave one.

Gaining an inheritance

However big or small your inheritance, there are a number of ways to put your money to good use. The ideal way is to invest at least some of it so it grows into a more substantial sum.

Inheritance tax planning

The best way to ensure you are minimising the amount of any possible Inheritance Tax is to see an Investment authorised Financial Adviser

An Investment authorised Financial Adviser might, for example, advise you to make gifts now to intended beneficiaries as will be free of IHT (providing you live for 7 years or more following the gifts). There are several other tax-efficient ways of making annual gifts, both to individuals and organisations such as charities.

You could then leave a further £325,000 free of IHT to your beneficiaries in your will. Gifts between married couples and civil partners incidentally are not subject to any Inheritance Tax. You might also like to think about setting up a trust. If you put part of your estate into a trust for your grandchildren, it could be decades before your cash is again under the eye of the taxman. Trusts can be complicated and your IFA may work in conjunction with a solicitor.

Another option you might like to consider is an insurance policy to pay the tax bill after you die. We can compare all insurers to help find the right policy for you.

Inheritance Tax Planning, Trust and Tax Planning advice are not regulated by the Financial Conduct Authority

The tax treatment is dependent on individual circumstances and may be subject to change in future

Need help? Get in touch with us today, we love to hear from clients old and new.

Call us on 01264 332334

Visit us at Oliver House, 40A High Street, Andover, SP10 1NF

..... or simply complete the enquiry form below.

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