Inheritance Tax

For those who will be affected by inheritance tax (IHT), careful forward planning can mean that the burden is reduced or avoided.

IHT is usually paid when somebody dies, if their estate – including any assets held in trust, and gifts made within the seven years prior to death – is valued over the IHT nil rate band.

IHT may sometimes be payable on trusts or gifts made during someone’s lifetime.

Married couples and registered civil partners can increase the threshold on their estate when one partner dies, by transferring their unused nil rate band to their significant other.

The experienced tax team at The Fish Partnership is qualified to advise on mitigation of IHT by:

  • Advising on the setting up of complex structures for wills, to include discretionary and
    property trusts
  • Advising on lifetime gifts to trusts or individuals
  • Ensuring use is being made of the annual exemptions, especially regular gifts out of surplus income
  • The use of retail products as tools for IHT planning

Our experience of implementing a variety of tax planning techniques produces practical solutions and enables clients to make tax savings. For more information regarding IHT, please refer to our tax tables.