Estate Planning

Inheritance Tax Planning

Inheritance Tax Planning - Brunsdon Financial

Inheritance Tax Planning is the process of calculating what your estate is worth, in order to plan your finances in the most tax-efficient way.

Pass on your assets efficiently and ensure that your family inherit as much of your wealth as possible, by taking steps now to reduce your Inheritance Tax bill.

Inheritance Tax Planning - Brunsdon Financial

Understand the options

Pass on assets efficiently

Pass on assets efficiently

Trusts & Estate Planning

Protect your loved ones

How we can help you with Inheritance Tax Planning

Review of your Estate

Calculating the value of your estate

Help you understand how the rules apply to your situation

Advice on passing your estate on in the most efficient way

Helping you utilise Trusts to reduce your tax bill

Ongoing reviews of your estate

Frequently Asked Questions about Inheritance Tax Planning

IHT is only paid on assets above £325k and charged at 40% on any amount above that.

This threshold may be higher if you are entitled to the Residence Nil Rate Band or have a transferrable Nil Rate Band / Residence Nil Rate Band.

There are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs) which can impact IHT. Additionally, each tax year, you can also give away some money or possessions free of Inheritance Tax.

How much is tax-free depends on which gift allowances you use.

Yes, if your Will leaves everything to your spouse or civil partner or other exempt beneficiaries such as charities, you can avoid IHT.

Gifting whilst you’re alive may also reduce your tax bill.

IHT is often expensive, but luckily it can be paid in instalments in some circumstances and in respect of certain assets – see the Gov UK website for more information.

It must be paid in 10 instalments annually from six months after the deceased’s passing or when the asset is sold if earlier.

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