Inheritance tax

Tax planningWe can assist with advising you on inheritance tax and tax planning, if you have specific concerns about Care Home fees please click here.

Inheritance Tax is a tax on the assets (the property, money and possessions) of someone who’s died. We can help you with the whole process of planning for your specific family needs, a brief summary of the current situation is shown below.

There’s normally no Inheritance Tax to pay if either:

  • the value of your estate is below the £325,000 threshold
  • you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club

If the estate’s value is below the threshold you’ll still need to report it to HM Revenue and Customs (HMRC).

If you leave your home to your children (including adopted, foster or stepchildren) or grandchildren your threshold can increase to £450,000 (increasing to £500,000 in stages by April 2020)

If you’re married or in a civil partnership and your estate is worth less than your threshold, any unused threshold can be added to your partner’s threshold when they die. This means their threshold can be as much as £900,000 (increasing to £1,000,000 in stages by April 2020)

Typical costs

We will usually charge per hour and depending on the complexity of the case.

The costs vary depending on your circumstances so please book a consultation, which can be made in person on remotely, please call us or complete our form.