Inheritance for children and grandchildren

A guide to inheritance tax planning options

Inheritance Tax can be an unwelcomed stress for beneficiaries. Have you considered whether your assets are structured in a tax efficient manner?


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:

  • Gifting;
  • Trusts;
  • Family Investment Companies;
  • Business Relief; and
  • Whole of Life Insurance.


Many individuals find estate planning overcomplicated as there are many reliefs and planning options available.
However, working with a financial planner will enable an approach to be taken that is right for you.

For more information, read our guide.

How can we help you?

If you would like to review the tax position of your estate, or look at specific ways to structure your assets,  we can help. 

If you would like assistance with your estate planning, or if you wish to arrange an initial no cost, no obligation, consultation, then please fill out the contact form below. Alternatively, you can call 01603 706 820 or email

Important information

This is solely for informational purposes and nothing in it is intended to constitute advice or a recommendation. You should not make any investment decisions based on this content.

The way tax charges (or tax relief, as appropriate) are applied depends on individual circumstances and may
be subject to future change. ISA and pension eligibility depend on individual circumstances. 

The value of investments can fall as well as rise and you may not get back the amount you originally invested. Do not invest unless you are prepared to lose all the money you invest. This is a high risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more about these products if they are of interest to you and please let us know if you would like to learn more.

While considerable care has been taken to ensure this information is accurate and up-to-date, no warranty is given as to its accuracy. This article constitutes a financial promotion.

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