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Inheritance Tax Planning

Planning Ahead for Inheritance Tax

You’ve worked to build up your wealth. But now it’s time to make plans so your loved ones can get the most from the estate you intend to leave behind.

Our inheritance tax advice and planning is there to help you get ready ahead of time. Making the right moves early could help you reduce the tax bill on the money and property you provide for the people who mean the most.

Inheritance tax doesn’t just affect the wealthy. Your estate is made up of more than just your home; from property to savings, to cars and antiques. If all these assets have a combined value of more than £325,000, your estate may be liable to foot the bill.

We’ve been helping people plan their financial futures for the last 30 years. Our expert advisors can support you in creating a solution that works for you.

Book a FREE initial consultation on Inheritance Tax Planning

Important information

The Financial Conduct Authority (FCA) does not regulate Trust planning, Will writing and most forms of inheritance tax planning. Some IHT planning solutions put your capital at risk so you may get back less than you invested. IHT thresholds depend on your individual circumstances and prevailing legislation, both may change in the future.

What could our Inheritance tax advice do for you?

We could help sort your assets, calculate how much tax you’re likely to pay and maybe help reduce your liability.

Our team of financial advisors could talk about you and your loved ones needs before creating a unique financial plan. After that no-obligation plan is created, we’ll work with you to decide how much help you need putting this into action.

If you’re not sure how much your estate might have to pay or how you could reduce it, we can help.

Video appointment service

Our video appointment service gives you the opportunity to have a face to face appointment without having to leave your home.

Video appointment service

The benefits of speaking with Skipton:

No Pressure Promise

No pressure promise

We’ll never push you into taking up a recommendation or service you don't want or need.

No implementation no charge

No implementation no charge

You'll only be charged if you decide to implement your financial plan

Financial planning experts

Your adviser will discuss with you your current lifestyle and financial situation, and build a plan tailored to your needs

Important things to get your head around

Inheritance tax thresholds

The current threshold for paying inheritance tax is £325,000. However, if you’re giving your home away to children or grandchildren, you may qualify for the residence nil-rate band. That means your threshold increases by a further £175,000. It’s always worth checking with a expert adviser to see if you’re eligible for the residence nil-rate band.

If you’re in a couple, you’ll each get the £325,000 allowance, plus the increased threshold if applicable. So your combined allowance could reach £1,000,000.

Inheritance tax gifting

Giving parts of your estate to people as gifts before you die can help ease the tax bill on their inheritance. But there are some rules you need to abide by. For instance, gifts to your spouse, gifts under £250, donations to qualifying charities and wedding gifts are usually exempt, but there are exceptions. For assets that aren’t exempt, you may need to give your gifts at least 7 years before you die.

For more information on inheritance planning and gifting, take a look at this article we wrote on inheritance tax gifts.

Next Steps

If you’re thinking about inheritance Tax planning, or you’d like to know more, we can have a no obligation conversation to discuss your options. Book an online video appointment today or request a call back to discuss your options.

Request a call back today

Book your FREE initial consultation to find out if Inheritance Tax Planning might be right for you. Simply fill in your details and we’ll be in touch at a time that suits you.

What to expect

  • The call will take as little or as long as you need.
  • We'll ask a few questions to understand your situation.
  • You'll also be able to ask any questions you have and find out how we can help.
  • And, there's no obligation to take things any further.

Alternatively you can call us on 0800 731 5342

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