Reduce or eliminate an inheritance tax bill

There are many ways to manage, reduce or eliminate an inheritance tax bill, including:

Making gifts
Using other assets to provide a retirement income and passing on your pension
Taking out a life insurance policy to cover the tax bill
Using tax-efficient investments to benefit from Business Relief

We can advise you on ways of planning your affairs to reduce your tax liability and the amount of tax paid for the benefit of your children or others who you wish to inherit from you.

Reduce or eliminate an inheritance tax bill
Inheritance Tax - Tilly Bailey & Irvine

When do you not pay inheritance tax?

Usually, there is no inheritance tax to pay if:

  • The value of the estate is below the threshold of £325,000
  • You leave everything above the threshold to someone in your Will, including a spouse or charity for example

Estate planning can save a huge amount of tax. Inheritance tax is usually charged at 40% on anything above your nil rate band. Taking action early means more of your money will go to your beneficiaries.

Call: 01429 856744