Inheritance Tax

Inheritance Tax Planning for many clients will be a key motivator in how their estate, investments, wills*, etc. are structured and implemented.

What is  Inheritance Tax (IHT)?

IHT is a tax duty levied on Estates at the time of an individual’s death.

What is  Nil Rate Band (NRB)?

The first £325,000 of an individuals Estate is taxed at 0%. This is known as the Nil Rate Band (NRB). Any estate value in excess of NRB is normally taxed at 40%.

There is now a secondary tax-free allowance, this is known as the Residential Nil Rate Band (RNRB). From 6th April 2020, this will stand at £175,000 per individual.

The above is a high-level explanation. We are able to give you crystal clear advice, to help you understand how your individual circumstance affects your Inheritance Tax allowance.

Frequently asked questions

Is IHT relevant to me?

If you want to reduce your IHT liability, we offer expert personal advice on the best strategies to adopt. Inheritance tax is important to get right if you want your loved ones to benefit the most. We help maximise your exemptions and allowances wherever appropriate.

Should I consider the use of Trust* arrangements?

Most types of Gifts in Trust require up to 7-year survival from the date of Gift for the value to become exempt. Planning in advance is essential. It is important to start looking now. Contact us on 01329 283311 to start the process and ensure your loved ones benefit from your careful planning.


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.


*Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place and along with Trusts are not regulated by the Financial Conduct Authority.

We can offer Planning Solutions, including:

• Inheritance tax • Gifts • Protection Planning • Later life planning • Estate Administration** • Professional trustee services


**Access to Estate Administration services.

For advice and assistance in all aspects of financial planning, reach out to us now.