Inheritance Tax (IHT) is the proportion of wealth taken from an estate by HMRC upon death, calculated based upon the value of a person’s assets. It is also payable on trusts or gifts made during a person’s lifetime. When payable, this liability leaves beneficiaries with an unwanted, and often unexpected, tax bill. Where an individual is UK domiciled, or deemed UK domicile for IHT purposes, this can be up to a rate of 40%.

Typically, many estates will not be subject to IHT as they are valued within the threshold, known as the nil-rate band.

There are several ways to reduce the IHT payable. Careful financial planning, accompanied by efficiently utilising the various allowances and planning option available, should allow you to best meet your financial objectives.

In this guide we shall introduce the following ways of managing your estate and the arrangements available to reduce your IHT liability. 

Download our guide. 

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