Inheritance Tax planning
Inheritance Tax (IHT) is a tax on the value of your estate when you pass away – but what exactly is included in your ‘estate’?
You may not realise how exactly your estate could be affected, and recent changes mean that from April 2027 almost all pension death benefits will be included in taxable estates.
Inheritance Tax applies to the money, property, and possessions you leave behind. Without careful planning, a significant portion of your estate could be lost to tax, reducing what is passed on to your loved ones.
Are pensions included in Inheritance Tax?
From April 2027 almost all pension death benefits, once considered a tax-efficient way to pass on wealth, will be included in your estate for tax purposes. This change could mean higher tax bills for your beneficiaries, making it essential to review your financial plans.
How we can help...
We can help you reduce or manage your Inheritance Tax liability by:
- Planning your estate effectively to ensure your loved ones benefit as much as possible.
- Understanding and making use of tax allowances and exemptions.
- Exploring options such as trusts and lifetime gifting to protect your assets.
- Reviewing your pension and financial plans to ensure they align with your estate goals.
Do you need advice on your Inheritance Tax planning?
