Inheritance Tax Planning Advice

Leaving as much as you can for your family

Help to organise how much you could leave for the people you care about

When you’ve worked hard to build a comfortable life and financial stability, most people start thinking of how they can pass on their legacy to their family and loved ones.

Inheritance tax (referred to as IHT by the UK government) doesn’t only apply to the wealthy.

Without making suitable plans, your loved ones could face a tax bill of 40% on the value of everything you own above a certain threshold. Your estate includes things such as property, cars, antiques, savings and investments.

The threshold is different if you give a property you have lived in and still own to your direct descendants. And a lower tax rate may be charged if you leave more than 10% to charity. IHT rules can be complicated and its worth seeking advice on this.

Personal advice on planning your legacy using our service

We work with selected advisers to provide a personal financial  planning service for people just like you, who use the Fair Investment site.  They have extensive experience in helping people plan for a stronger financial future.

Inheritance Tax Planning

  • There’s no pressure to act on their advice, and no upfront fees to pay. You’ll have the time you need to decide if you want to act on their recommendations, and will only pay a fee if you do.
  • You can speak to an adviser without even leaving your home – via video link service. You can also have an appointment over the phone or face to face.
  • Free initial appointments and you’ll only be charged if you decide to proceed with the recommendations provided.

How could inheritance tax advice help you?

Personalised IHT planning helps you sort out your assets, calculate how much tax you’re likely to pay and see if you can reduce any liability you may have. The earlier you put plans in place the more options you may have.

The financial advisers we work with will talk to you about your needs, and what your loved ones might need, before creating a no-obligation personal financial plan for you.

After that, they’ll work with you to decide how much help you might want to put your plan into action.

You’ll be able to talk through your options and get all the information you need in a face to face video conversation  or via telephone.

Some of the things IHT planning advice could help you with… 

If you’re in a couple, you’ll each get the £325,000 allowance, plus the the main residence nil band rate of £175,000 (in 2020/2021), if you’re leaving your home to a direct descendant.

  • So your combined tax-free allowance could reach £1,000,000 for a married couple, in a civil partnership or widowed (£500,000 per person).
  • Both of your thresholds will increase in line with the Consumer Price Index from 2021/22 onwards.
  • Giving parts of your estate to people as gifts before you die can help reduce any IHT liability.
  • But for assets that aren’t exempt, you may need to give your gifts at least 7 years before you die.

The rules of gifting can be complex and advice should be sought before doing this.

Important information…

This type of advice (on trust planning, writing a will and most forms of inheritance tax planning) is not regulated by the Financial Conduct Authority (FCA).

Some IHT planning solutions put your capital at risk, so you may get back less than you invested. You need to be aware that tax thresholds depend on your individual circumstances and current laws, and both of these may change in the future.