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With inheritance tax thresholds frozen until 2026, planning is key to maximising your family inheritance

Inheritance Tax & Estate Planning

With property prices rising and the Nil Rate Band tax thresholds currently frozen, an increasing number of estates are becoming liable to pay inheritance tax.

We pride ourselves on taking a holistic approach in estate planning. By getting to know as much as we can about your financial and familial circumstances, we can provide bespoke advice on how best to structure your estate and take advantage of relevant inheritance tax exemptions and reliefs. We also appreciate the importance of inter-generational planning, often acting for parents and children together, to ensure the family wealth is preserved and passed down efficiently.

If you are looking to reduce the value of your estate, we can advise on the optimal way to make gifts during lifetime and how best to document them.

Where possible, we like to work in coordination with your other trusted advisers (accountants and financial advisers) to ensure a cohesive approach is taken.

Our clients include individuals, couples and multi-generational families and we regularly advise clients who have their own businesses as well as farmers and landowners.

We act for UK nationals and also other nationalities who are living in the UK. Foreign residents or UK nationals living abroad are often subject to the laws of more than one country and we are accustomed to liaising with specialist lawyers and accountants overseas in order to set up structures to optimize their global position, including sheltering UK assets in offshore jurisdictions.

If you wish to find out how your estate may be impacted by inheritance tax or are looking at ways to structure your estate more effectively, please get in touch with one of our team members below.

How we can help

Reduced Rate (Gift of 10% of Net Estate to Charity)

Providing advice and drafting Wills to include charitable legacies, which secure the benefit of the 36% discounted rate of inheritance tax for taxable estates.

Agricultural Relief

Advice on the management and structure of your farm or estate, with a view to satisfying the necessary criteria to secure inheritance tax relief on your agricultural assets.

Domicile

Providing advice in relation to Domicile, the factors that determine it and how this affects your inheritance tax position

Lifetime Planning

Advising on and reviewing lifetime planning and structuring of financial affairs, including optimising exemptions and reliefs, with a view to minimising inheritance tax payable.

Business Relief

Planning and advising business owners on the qualification of their assets for business relief from inheritance tax, the applicable rates of relief and potential solutions for non-qualifying assets.

Deeds of Variation

Advising beneficiaries on redirection of assets to produce a more tax efficient outcome and drafting associated deeds of variation.

Lifetime Gifts

Advice on lifetime gifts to individuals or trusts, potentially exempt transfers and the seven year rule, taper relief, optimal use of exemptions and allowances (including normal expenditure out of income), and gifts with reservation of benefit.

Nil Rate Allowances

Advising on the availability of your nil rate band, residence nil rate band and any transferable nil rate bands and providing calculations of your estimated inheritance tax liability on death.

Providing advice and drafting Wills to include charitable legacies, which secure the benefit of the 36% discounted rate of inheritance tax for taxable estates.

Advice on the management and structure of your farm or estate, with a view to satisfying the necessary criteria to secure inheritance tax relief on your agricultural assets.

Providing advice in relation to Domicile, the factors that determine it and how this affects your inheritance tax position

Advising on and reviewing lifetime planning and structuring of financial affairs, including optimising exemptions and reliefs, with a view to minimising inheritance tax payable.

Planning and advising business owners on the qualification of their assets for business relief from inheritance tax, the applicable rates of relief and potential solutions for non-qualifying assets.

Advising beneficiaries on redirection of assets to produce a more tax efficient outcome and drafting associated deeds of variation.

Advice on lifetime gifts to individuals or trusts, potentially exempt transfers and the seven year rule, taper relief, optimal use of exemptions and allowances (including normal expenditure out of income), and gifts with reservation of benefit.

Advising on the availability of your nil rate band, residence nil rate band and any transferable nil rate bands and providing calculations of your estimated inheritance tax liability on death.

Testimonials
Testimonials

“[the team] takes the private client platform to another level, it is not tax avoidance but optimising the value created and ensuring it is managed in a professional and ethical manner. The focus helps understand the options available and how to ensure everything is legally compliant. The team are all very supportive and responsive”.

(Private Client)

“We have worked with Clare Harris for several years and she strives to understand our needs of the wider family, to enable us to plan effectively and goes the extra mile. This enables her to recommend options and suggest ideas which benefit the whole family.”

(Private Client)

“Ian Bowyer has a calm, focused approach putting clients at ease and building a rapport quickly. Whilst he has broad technical expertise, future planning is a key strength for him. He works as a team with other professional advisers, something that is both unusual and refreshing, and definitely differentiates from the competition. The team has strength and depth, team members are easy to work with and they do what they say they are going to do. Professional, business-like, and accessible with strong service delivery and a feeling that nothing is too much trouble”.

(Private Client)




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      By completing and submitting this form, you consent to Greenwoods Legal LLP processing your personal data to provide you with the email update services you have selected and any other materials and information about our services that Greenwoods Legal LLP reasonably believes will be of interest to you. You are free to withdraw your consent at any time by emailing mailinglists@greenwoods.co.uk