Inheritance tax

When you die, your estate might be liable for inheritance tax. We can help you plan your finances efficiently, so you don't need to pay more than you have to.

Luck Luck Ooi, Saffron Walden

What is inheritance tax?

Your estate may be liable for inheritance tax when you die. Usually, if your house, money and other belongings are worth less than £325,000 you don’t pay and if you’re married or in a civil partnership the threshold goes up to £650,000 on the second death; after that it’s usually a flat rate tax of 40%. It’s tempting to think this is a tax only for the wealthy, but with house prices as they are today you might want to think again.

From 6th April 2017, there is an additional allowance being introduced.  It starts at £100,000 per person which is in addition to the £325,000. There are various criteria to qualify; they include owning a residence which will pass to direct descendants.

If you want to prevent the tax man taking a large bite out of your family’s inheritance, you need to plan carefully. If you own a business of any sort you’ll need to take an even closer look at all the various rules and regulations. The long and short of it is that you need expert help to ensure you don't pay a penny more in inheritance tax than you need to.

How we can help

We can advise you on every angle of inheritance tax planning and how it might affect your business and personal estate. Not only will we help you make sense of these complex issues, we’ll also work with you to draw up a plan that lets you have the final say on where your money and other assets end up.

A straight-talking service

We pride ourselves on the professional and personal service we provide. We also know your circumstances are different to anybody else’s, so you’ll need a plan that works specifically for you. Tax legislation is getting tighter by year, but operating within that framework we’ll find a solution that helps to minimise your liability.

We take care of the details

We’ll work closely with you throughout the process. Our first step will be to learn all we can about you, your family and your business. We do this because the more we know and understand about you, the more carefully we’ll be able to organise the transfer of all your assets. 

You can trust in Tees

We have some of the most experienced and senior tax-planning professionals in the industry who will regularly review your personal and business tax plans in the light of any changes to the system – and we’ll suggest what changes you might need to make. 

We can also help if you’re currently looking at the way your business is run or you want to diversify – we’ll let you know straight away of any of this might alter your tax planing in any way. As well as this, we can advise on several other areas linked to inheritance tax planning, such as:

  • Lifetime gifts to children and grandchildren 
  • Trusts 
  • Charitable giving 
  • Tax effective wills
  • Wealth management 
  • Maximising capital tax reliefs 

Our service is designed around you

Whatever your needs and no matter how complex your situation, we can help. Our experienced tax solicitors and accountants will explain all the implications of inheritance tax for you in jargon-free language. Come and meet our experienced team, and we'll let you know how we can help.

Call our Wills and Probate solicitors on 0800 0131165

For an initial chat, at no obligation, or fill out our enquiry form and a solicitor will get in touch.

Enquiry form

We understand your situation and our expert team are here to help

Get in touch to speak with someone who can help you move forward.

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Tees coronavirus update

We’re open and here to help you. We’re running as normal with our employees all working from home.

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You can call us as normal on 0800 013 1165 or email us:

You can also find contact details for all our advisers here. 

As a flexible and technologically-adept firm, we already had many home-working systems in place. We have now rolled this technology out to all our employees working for clients, so they can continue to work normally - and from home.

If you are a client, please be assured you can get in touch with Tees and we are still working on your case. To replace face-to-face meetings, we have the facilities to do video-conferencing, conference calls or just speak on the phone, as you need.

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