Inheritance tax planning & advice

Inheritance tax planning & advice

Your hard-earned assets should go to the people you care about, not be lost to inheritance tax. Many individuals don’t realise their estate could exceed the tax-free threshold—especially with rising property values—leaving their loved ones with an unexpected tax bill.

Our expertise in inheritance tax planning & advice

At Anthony Gold Solicitors, we help you take control of your estate with proactive tax planning. Our expert solicitors guide you through tax-efficient strategies, ensuring that your wealth benefits your family as you intended. Whether through will drafting, trust planning, or maximising available reliefs, we make inheritance tax planning straightforward and effective.

Why inheritance tax planning matters

Many people assume inheritance tax (IHT) won’t apply to them, only to find out too late that their estate exceeds the tax-free threshold. In the UK, the standard inheritance tax threshold for individuals is £325,000, with anything above this amount typically taxed at 40%. However, with rising property values, even those who once believed their estate was modest may now face a significant tax liability.

Without a proper plan, your loved ones could end up paying tens or even hundreds of thousands in tax. The good news is that proactive inheritance tax planning can significantly reduce or even eliminate the amount owed, allowing more of your wealth to pass to your family. This involves making the most of tax reliefs, exemptions, and strategic estate structuring. 

At Anthony Gold Solicitors, we provide clear, tailored advice to help you: 

  • Identify potential tax liabilities and understand how inheritance tax will affect your estate. 
  • Utilise available reliefs and exemptions to reduce or remove inheritance tax. 
  • Plan for the future with wills, trusts, and gifting strategies that ensure your estate is protected. 

Effective tax planning isn’t just for the wealthy—it’s for anyone who wants to secure their family’s financial future. 

Our tax planning services

Our specialist inheritance tax solicitors provide comprehensive solutions to help you safeguard your assets and ensure they pass efficiently to your chosen beneficiaries.

Will drafting & estate planning

A carefully drafted will is the foundation of any tax-efficient estate plan. Without a will, your assets could be distributed in a way that increases the inheritance tax burden for your loved ones. Our expert solicitors will: 

  • Ensure your will reflects your wishes while minimising tax liability. 
  • Advise on using the residence nil-rate band to protect the value of your family home. 
  • Help structure your estate to take full advantage of tax exemptions. 

Trusts & asset protection

Setting up a trust can be an effective way to manage inheritance tax while ensuring your assets are protected for future generations. Depending on your circumstances, we may advise on: 

  • Discretionary trusts – Offering flexibility while keeping assets outside your taxable estate. 
  • Life interest trusts – Allowing a spouse or relative to benefit from income while preserving capital for future beneficiaries. 
  • Bare trusts – Passing assets to children while keeping inheritance tax liabilities to a minimum. 

Trusts can also help protect assets from creditors, family disputes, and care home fees. We guide you through which type of trust best suits your needs and handle all legal requirements. 

Tax reliefs & exemptions

Many people pay more inheritance tax than they need to because they aren’t aware of the available reliefs and exemptions. We ensure you benefit from: 

  • Spouse or Civil Partner Exemption – No inheritance tax is due on assets left to a surviving spouse or civil partner. 
  • Annual Exemption – Gift up to ÂŁ3,000 per year tax-free. 
  • Small Gift Exemption – Make unlimited tax-free gifts of up to ÂŁ250 per recipient. 
  • Business Relief & Agricultural Relief – Reduce inheritance tax on business and farm assets. 
  • The 7-Year Rule – Reduce tax liability on larger lifetime gifts by surviving for seven years. 

We create a strategic plan that makes the most of these reliefs, ensuring your estate is distributed as tax-efficiently as possible. 

Property & business tax considerations

Property and business assets can make inheritance tax planning more complex, but with the right strategy, tax exposure can be minimised. We provide: 

  • Advice for landlords and property owners on structuring property portfolios to reduce inheritance tax. 
  • Guidance for business owners on succession planning, including using Business Property Relief (BPR) to reduce tax burdens. 
  • Strategies to pass family businesses tax-efficiently, so they remain in the hands of the next generation. 

At Anthony Gold Solicitors, we don’t just advise—we create action plans that help you take control of your tax position before it’s too late. 

Why choose Anthony Gold for tax planning?

Inheritance tax planning is about more than just numbers; it’s about securing your family’s financial future. With complex tax laws and ever-changing regulations, professional advice can make a significant difference in reducing tax liabilities. At Anthony Gold Solicitors, we provide strategic, tailored guidance to ensure your estate is passed on in the most tax-efficient way.

Expertise & proven results

Our solicitors specialise in inheritance tax planning, combining legal knowledge with financial insight. With years of experience advising individuals, families, and business owners, we understand the complexities of tax law and how to structure estates for maximum benefit. Clients trust us to provide practical solutions that minimise tax while keeping their long-term interests at heart. 

Personalised strategies for every client

Every estate is different, and tax planning is not a one-size-fits-all process. We take the time to understand your financial situation, family structure, and long-term goals before crafting a strategy that aligns with your needs. Whether you require a simple tax-efficient will or a complex trust arrangement, our team ensures your plan is tailored to you. 

Comprehensive service under one roof

Inheritance tax planning often involves multiple legal and financial considerations. We provide a seamless service that covers all aspects of estate planning, including will drafting, trust creation, and property or business structuring. Our integrated approach eliminates the need for multiple advisers, ensuring clarity and consistency in your tax planning strategy. 

Proactive approach to tax efficiency

Taking action early is key to reducing inheritance tax. Many tax-saving strategies require time to be fully effective, such as lifetime gifting and trust planning. We help clients anticipate future tax implications and implement proactive measures that protect their wealth before tax liabilities arise. By planning ahead, you gain greater control over how your estate is managed and distributed. 

Clear, practical advice

Tax laws can be complicated, but our approach is always straightforward. We explain your options in clear terms, ensuring you fully understand your choices and how they impact your estate. Whether you need a simple will review or an advanced tax-saving structure, we provide guidance that is both accessible and effective. 

Our focus is on minimising tax, protecting assets, and ensuring your wealth benefits the people you care about most. With Anthony Gold Solicitors, you receive expert advice that simplifies the process while delivering real financial advantages. 

Words from our clients

Anthony Gold has an excellent reputation. It has a fantastic team approach. It does not shy away from difficult client issues and is very responsive and very professional.

Wills, Trusts and Estates Client

They’re an excellent team – they all work very hard for the client’s interests and will try to minimise costs for them. Trustworthy delivery and service. Thorough in execution and demonstrated empathy towards our needs.

Wills, Trusts and Estates Client

We have been dealing with Umar on a number of issues over a year he has been very helpful, polite and sincere in the advice he has given us and prompt and concise in his correspondence with us. Anthony Gold is a formidable firm with exceptional expertise.

Wills, Trusts and Estates Client

Take control of your financial legacy – Speak to our experts

Inheritance tax can significantly impact the wealth you leave behind, but with the right planning, you can reduce or even eliminate unnecessary tax burdens. At Anthony Gold Solicitors, we make the process straightforward, ensuring your estate is structured efficiently and in line with your wishes. 

Our expert team is ready to help you protect your assets and secure your family’s future. Contact us today to discuss your inheritance tax planning needs. Call us on 020 7940 4060 or email mail@anthonygold.co.uk to arrange a consultation. 

Speak to the team today

Inheritance Tax Planning & Advice: FAQs

Who needs inheritance tax planning?

Anyone who owns property, savings, or other assets should consider inheritance tax planning, especially if their estate’s value is close to or above the inheritance tax threshold. Many people underestimate their liability, particularly with rising property prices pushing estates beyond tax-free allowances. Proper planning ensures your beneficiaries receive as much of your estate as possible while minimising or eliminating unnecessary tax. 

How much can I leave tax-free before inheritance tax applies?

The standard inheritance tax threshold, known as the nil-rate band, is ÂŁ325,000. If your estate is worth less than this, no inheritance tax is due. However, if you leave your main residence to direct descendants, you may also qualify for the residence nil-rate band, which provides an additional allowance of ÂŁ175,000. This means a married couple or civil partners could potentially pass on up to ÂŁ1 million tax-free, provided they meet the criteria.

What is the current inheritance tax rate in the UK?

Inheritance tax is charged at 40% on the value of an estate exceeding the tax-free thresholds. However, if you leave at least 10% of your estate to charity, the rate is reduced to 36%. Some reliefs and exemptions, such as those for business or agricultural assets, may lower the overall inheritance tax liability further. 

How do trusts help with inheritance tax planning?

Trusts can be used to protect assets and reduce inheritance tax liability by ensuring that wealth is passed on in a controlled and tax-efficient way. Assets placed in certain types of trusts may no longer be considered part of your estate for tax purposes, provided certain conditions are met. Trusts also allow you to set specific terms for how and when beneficiaries receive their inheritance, which can be useful for family wealth preservation, protecting vulnerable beneficiaries, or reducing exposure to inheritance tax.

Are there any exemptions for passing on a family home?

Yes, the residence nil-rate band allows individuals to pass on their main home to direct descendants (children or grandchildren) with an additional tax-free allowance of ÂŁ175,000. This means a married couple or civil partners could benefit from a combined exemption of up to ÂŁ1 million. However, if the total estate is valued at over ÂŁ2 million, the residence nil-rate band is gradually reduced, so careful planning is essential to maximise this relief.