Inheritance tax (IHT) review service

Inheritance tax (IHT) is often referred to as a voluntary tax, as individuals choose to pay it by not taking advantage of the methods which exist of avoiding it.

It’s usually payable on death but there are certain circumstances, for example if you put assets into certain types of trusts, when inheritance tax becomes payable earlier. Inheritance tax is charged at a rate of 40%.


Every individual is entitled to a nil rate band (that is, every individual is entitled to leave an amount of their estate up to the value of the nil rate threshold without incurring IHT).

Where your estate is left to someone other than a spouse or civil partner, Inheritance tax (IHT) of 40% will be payable on the amount that exceeds the nil rate threshold. The current threshold is £325,000. The threshold usually rises each year but has been frozen at £325,000 for tax years up to and including 2017/18.


You would have thought that this part of inheritance tax planning was straight forward.

For a married couple with two times the nil rate band of £325,000, we surely just workout any value of their assets above the combined £650,000 and apply the inheritance tax rate of 40% on this excess?!

  • Sometimes, yes; however, it is also important to consider:
  • Any gifts that have been made in the past seven years
  • What investments or assets are held?
  • Where are these investments or assets held?
  • Do any of these investments or assets receive exemptions?


As part of our inheritance tax advice and planning service, we will provide you with a summary outlining your current net worth (i.e. the value of their assets less their liabilities) and then calculate the inheritance tax payable based on your current circumstances, outlining any exemptions you may receive and any other important considerations.

Once the above is known and you have explained how you are to looking to spend your wealth in retirement, we will work with you to produce a report to identify the different planning options available to you. The end result is centred on maximising your access to your wealth in retirement so you can enjoy life to the full, whilst reducing the amount of tax payable by your children on your death.

For more information about inheritance tax planning and advice, please call 029 2050 8000 or email

Please also see our other estate planning services:



A free consultation with our financial experts

Take advantage of our free consultation and get all your questions answered by our financial experts – call us on 029 2050 8000 or complete our online enquiry form to arrange your meeting. The first meeting is at our expense and with no obligation.