Inheritance Tax Planning

Without advice and careful financial planning, HM Revenue and Customs can become the single largest beneficiary of your estate following your death.
The introduction of the residence nil rate band in the 2017/18 tax year may have served only to confuse people further.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax reliefs depends on individual circumstances.



Call us on: 01892 770 077Email us on: 77wm@sjpp.co.uk

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Inheritance Tax Planning

Death duties have been with us for centuries, in the guise of Estate Duty, Capital Transfer Tax and now Inheritance Tax (IHT). Irrespective of the name used, the purpose has always and will always be the same; to raise revenue from the estates of citizens.

Once considered a tax on the truly affluent, IHT now affects more estates than ever. It will undoubtedly come as a shock to discover that a large proportion of your wealth, which includes all of your assets such as the family home, investments including Individual Savings Accounts (ISAs), proceeds from life assurance plans not in trust, and even old family heirlooms might actually have to be sold in order to meet the tax liability on death.

The first £325,000 of an individual’s estate (referred to as the nil rate band) is taxed at 0% and is not therefore liable to IHT.

The entire estate in excess of the nil rate band is potentially taxed at a flat rate of 40% assuming no charitable bequests.

In addition, each person could benefit from an additional £175,000 allowance to use against the value of their home is passed to a direct descendant.


Trusts are not regulated by the Financial Conduct Authority.

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.
You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.

Inheritance Tax Planning FAQ's
Q: What is an estate?
Your estate is the value of everything you own including cash, house and investments less anything you owe to someone else (like a mortgage) on the day that you die.
Q: What is Probate?
Q: How do they decide whether I will pay any Inheritance tax after I die?
Q: What rate is Inheritance tax?
Q: What are Death Duties?
Q: When do I pay Inheritance Tax?


The levels and bases of taxation and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances. The information on this website is based on our interpretation of the current law and HMRC practice. Taxation legislation and HMRC practice may be subject to unforeseen changes in the future.

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READ THE FULL GUIDE
You can read or download the full guide to Inheritance Tax.

Read or download guide

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Book a meeting with us today to discuss Inheritance Tax.

Call us: 01892 770 077