Inheritance Tax Planning
Get in touchAt Professional Accountants, we help families, individuals, and business owners and across the UK plan effectively for inheritance tax (IHT) with strategies that protect wealth, preserve legacies, and minimise unnecessary tax liabilities.
Whether you’re passing down property, gifting assets, or navigating complex estate structures, our tailored inheritance tax planning services are designed to give you peace of mind and financial confidence across generations.
What Does Inheritance Tax Planning Cost in or Around ?
The cost of inheritance tax planning ranges from £500 to over £5,000, depending on the size of your estate, the complexity of your assets, and the level of advice required.
Costs are primarily influenced by factors such as the inclusion of trusts for wealth protection, business or property ownership, lifetime gifting strategies, and the coordination of wills and estate documents with tax-efficient planning.
Contact Professional Accountants to get customised prices for protecting your estate and reducing future tax liabilities.
Why Is Inheritance Tax Planning Crucial for Families?
Inheritance tax can reduce your estate by up to 40% if you don’t plan ahead. For families, this planning is vital to ensure that your loved ones receive the maximum benefit from your life’s work.
With rising property values and frozen tax thresholds, more people than ever are falling into the IHT bracket. Effective planning not only reduces liability but also prevents future family disputes, probate delays, and financial strain on beneficiaries.
How Much Can You Gift Tax-Free to Family Members?
Individuals can gift up to £3,000 each tax year free of Inheritance tax under the annual exemption. Small gifts of up to £250 per person are also allowed, and there are additional allowances for wedding gifts, charity donations, and regular gifts from surplus income.
Over time, using these exemptions effectively can help reduce the value of your estate and future tax liabilities—especially when combined with other IHT planning tools like trusts and life insurance.
Do Inheritance Tax Planning Services Include Trusts, Reliefs, and Gifting Strategies?
Inheritance tax planning services typically incorporate a range of strategies and legal tools to minimise future liabilities and preserve wealth, including:
Discretionary and life interest trusts – Used to protect assets, provide for beneficiaries, and control how wealth is distributed.
Agricultural and business property relief – Offers significant reductions or exemptions on qualifying farmland or business assets.
Lifetime gifting strategies – Enables tax-efficient transfers of wealth during your lifetime using annual exemptions and potentially exempt transfers.
Life insurance policies written in trust – Ensures policy payouts are excluded from your taxable estate and pass directly to beneficiaries.
Nil rate band and residence nil rate band planning – Maximises available thresholds to minimise inheritance tax exposure.
Comprehensive estate integration – Aligns trust, gifting, and relief strategies with your wider estate and succession plans.
Can Tax Planning Help Reduce the 40% Inheritance Tax Liability on Your Estate?
A carefully structured inheritance tax plan can significantly reduce or even eliminate the 40% inheritance tax liability. Advisors can help you use exemptions, allowances, and reliefs to your advantage while ensuring your financial needs during your lifetime are not compromised.
For business owners and landlords, strategies such as incorporating your assets or qualifying for business property relief can offer substantial savings.
Is Professional Inheritance Tax Advice a Cost-Effective Step for Generational Wealth Planning?
Hiring a specialist in inheritance tax planning is a smart investment—especially if your estate exceeds the nil-rate band or includes complex assets like shares, property, or business interests.
Families who don’t plan ahead often face thousands in avoidable tax charges. Professional guidance ensures you pass on your wealth in the most tax-efficient way, preserving your financial legacy for children, grandchildren, or charitable causes.
What Happens If You Pass Without a Tax-Efficient Estate Plan?
Dying without an inheritance tax plan could lead to your beneficiaries facing large tax bills, delayed inheritance due to probate, and the possible forced sale of property or business assets to cover inheritance tax liabilities.
HMRC may claim up to 40% of your estate above the nil-rate threshold, and intestacy rules may distribute your wealth in a way that doesn’t reflect your wishes. A lack of planning can also increase the administrative burden and emotional stress on your loved ones during an already difficult time.
Can Advisors Coordinate With Solicitors, IFAs, and Executors?
Professional inheritance tax planners often work as part of a multidisciplinary team. They coordinate with solicitors to draft or update your will, financial advisers (IFAs) to manage investments, and accountants to handle valuations and tax submissions.
This collaborative approach ensures your estate plan is legally sound, financially efficient, and aligned with your long-term wishes.
Contact Professional Accountants for a consultation on getting inheritance tax planning services.