Inheritance Tax (IHT) Information

Reduce your IHT bill with expert legal guidance.
HomeInheritance Tax (IHT) Information

IHT Planning Services We Offer

Many people don’t realise that IHT is largely avoidable given the right planning.

At Waverley Wills, there are a number of of products, arrangements and strategies available to you if you wish to minimise the amount of IHT you pay.

During all of our consultations for wills, we make a basic IHT calculation and confirm whether an IHT liability exists. If so, our expert will advise on the various options you have for IHT mitigation planning.

Speak With Us To Learn More

Important Things to Know About IHT

  • IHT is potentially payable by the estate of anyone who is UK domiciled.
  • It is based on the value of an individual’s worldwide assets and also on the UK assets of non-domiciles.
  • The first £325,000 of every estate is covered by the nil-rate band, meaning it is not subject to inheritance tax.
  • When a parent leaves their main residence to a direct descendant, a further £175,000 is added to the nil-rate band threshold.
  • This is known as the “residence nil rate band” and is also available to those who downsized or ceased to own their home after 7th July 2015, but passed assets of an equivalent value to their direct descendants on death.
  • It was announced in Rachael Reeves’ 2024 budget that as of 2027, the majority of pension death benefits will fall within the deceased’s estate for IHT.

Send Us a Message

If you have any questions, please fill out the form below and we will get back to you as soon as possible.


More Practice Areas