Home » Individuals & Families » Inheritance Tax

Inheritance tax planning

Inheritance tax (IHT) has a way of catching people off guard. The rules have always been complex, but recent changes related to pensions and business property relief mean plans you had in place may no longer work as expected.

Whether your situation is straightforward or involves multiple assets or family arrangements, the starting point is the same: understanding your inheritance tax exposure and your options.

We never look at your position in isolation. We coordinate across disciplines, working with other advisers, so your tax position, investments, pension, will and wider goals all point in the same direction. If you’d like to benefit from the latest advice, let’s talk.

Get in touch

Stephen Bartlett-Rawlings, Partner in PEM's Private Clients team

IHT planning advice in Cambridge

Without the right estate planning, HMRC can end up as the largest beneficiary of your hard work. Many families are caught out. Either because no plan is in place, or because the plan they had is no longer fit for purpose. Your family and loved ones could pay inheritance tax of up to 40% on any assets passed to them.

Working together, we can help you:

Understand your exact exposure and protect your wealth
Reduce your inheritance tax liability
Allow your family, the people or the causes most important to you to enjoy the proceeds of your lifetime’s achievements
Have peace of mind that your estate is in the best tax position it can be.

And because IHT rules change, we keep reviewing to ensure you take advantage of any relevant reliefs and exemptions.

Talk to our team

Martin Roberts from PEM's Private Clients team

How could the changes to Inheritance Tax impact you?

Take 1 minute to complete our simple IHT calculator to find out how you could be impacted.

Calculate your Inheritance Tax exposure

Nicola Anderson, Partner in PEM's Personal Tax team

FAQs

What inheritance tax reliefs and exemptions can I take advantage of?

Here are some of the options that may apply to you:

Business property relief
Agricultural property relief
Spouse exemptions
Annual and small exemptions
Nil rate band
Residential nil rate band
Trusts
Charitable giving
Lifetime giving
Regular gifts from excess income.

Make sure you know what’s right for your situation; talk to one of our friendly estate planning experts.

What if my circumstances change? How does that affect estate planning?

A plan you made five years ago may need revisiting today. It could be a change in your family circumstances, business, investments, or health. Whatever has shifted, we stay close to you with regular check-ins and proactive updates on legislation changes. And the flexibility to change course when you need to. Your dedicated IHT adviser will flag anything that you need to know or act on.