Inheritance Tax Advice

It isn’t always easy to discuss what you would like to happen to your wealth after your death that’s why we specialise in inheritance tax advice. You may have concerns about your wealth and taking financial care of your family. We have specialist Trust and tax knowledge to guide you through this complex area of Inheritance Tax and gifting to ensure you have full confidence that your loved ones will benefit from your legacy.

  • Peace of mind that your wealth goes to your loved ones or beneficiaries you care about
  • Expert advice and guidance on Inheritance Tax
  • Reduce or eliminate the amount of tax due on your estate where possible
  • Provide clear, jargon free advice on complex tax decisions

Helen and Her Daughter’s Story

After helping our client Mary with her Retirement Planning for over 10 years, Chartered Financial Planner, Mark Reidford also reduced her Mother, Helen’s, Inheritance Tax bill by over £400,000.

Find out how we reduced Helen’s Inheritance Tax.

Gifting, Trust Planning & Charities

We will give you guidance for preparing to pass on your wealth and reduce the Inheritance Tax liabilities on your estate, this is an important part of your overall wealth management strategy.

Arrangements can be put in to place for you to give away assets to your partner, family members or friends, to set up a trust fund or to leave something to a charity close to your heart.

We are here to listen to your personal concerns and aspirations for your estate. We will give you expert guidance based on your personal circumstances providing you with the reassurance and peace of mind you need.


Your decisions can benefit your loved ones in the short, medium and long term especially if you choose to gift during your lifetime. Innes Reid will guide you through the options available to you so you can clearly understand how they will affect you and your family.

We are here to provide you with the reassurance that the legacy you have worked so hard for will benefit those you care about.

Trust funds

You may wish to place capital in Trust so that it is not subject to Inheritance Tax; this normally takes seven years, but there are ways to achieve immediate tax savings. Trusts can also protect assets (i.e. the family home) against the cost of care home fees.

We will breakdown the jargon so you are able to make well-informed decisions about your wealth, not leaving your legacy to chance.

Charity Donation

If you would like to leave funds to a charity that’s close to your heart, our team will advise you on how to achieve this and how your donation can reduce the amount of Inheritance Tax on your estate overall.

What is Inheritance Tax? (IHT)

Inheritance tax is paid on the value of the assets that a person leaves behind when they die. It can also apply to some gifts that are made before someone dies.
If you are married, or have a civil partner, you can leave your entire estate to your spouse or partner free of inheritance tax. If you choose to leave some or all of your estate to family and friends, then it may be liable for inheritance tax.

How does IHT work?

If the value of your estate is worth more than £325,000 (known as the ‘nil-rate tax band’), then HMRC will expect you to pay inheritance tax at a rate of 40% on the total value of assets in your estate over that amount.

Your estate can include:

• Your house and any other properties you own.
• Any savings or investments (remember, some types of pensions are excluded from your estate, but other investments, including ISAs, are taxable).
• Any other assets.
• The value of any life insurance policies in your name.

Ready for some inheritance tax advice from an expert?

Thinking about passing on wealth can be difficult. However, it’s important to consider how you will pass on money and other assets to those you who are important to you. It important to think about your legacy and gifting as part of your wider financial plan.

If you have any questions or would like more information about estate planning please get in touch. Your first meeting at Innes Reid is entirely at our expense and there is no obligation to work with us.

Email, Call 01244 347 583 or complete our book a meeting form and we will contact you promptly.

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