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INHERITANCE TAX PLANNING

Good Inheritance Tax planning allows you to maximise your assets to your family and friends.

The current thresholds of Inheritance Tax (IHT) have changed very little in the last 12 years, what changes have been introduced though are complex and subject to certain qualifying conditions. With the ongoing increase in house values and estates through inheritance received, IHT is an ever-growing issue with more tax being paid than ever before. However - we are keen to point out that IHT is a voluntary tax and it is only paid by those who haven’t planned for it.


Through our partners at Insight Financial Associates and in conjunction with Cambridge Wills we can now provide bespoke IHT planning for individual estates ranging from £500k to £250 million plus.


Specialist IHT advisers from Insight are providing bespoke planning and reports tailored to each individual's estate, circumstances and family set up. Please feel free to request or download Insight's 'Untangling IHT Guide' for reference of what's possible to reduce or wipe out your IHT liability. The guide touches on:

  • Undrawn pension pots that can be passed free from inheritance tax;
  • Equity release schemes that can help on gifting and reducing IHT liability;
  • Whole of life insurance policies written into trust allows families to cover large IHT bills without gifting in their lifetime, also being subject to 7-year rule while retaining control over all assets;
  • Investments or ISA’s that qualify for Business Relief (BPR-qualifying companies) can be passed via your Will free of IHT if held for more than two years - unlike gifts, the investor retains control over the investment and can then sell said investment in future to get the proceeds back if need.

We also look at the generational issues with Inheritance Tax, this is where the same inherited monies can be taxed again when it's passed down through the family bloodline. Through our bespoke Legacy Protection Plans we provide the most tax efficient and protective way of gifting or passing inheritance on to family and through the family bloodline. It may also be used during your lifetime for any protective gifting or IHT planning with children or grandchildren.


The use of a Legacy Protection Plan helps mitigate generational Inheritance Tax as the inheritance is repeatedly passed through the generations via the trusts without increasing a child's/grandchild’s estate for IHT. In this way, protection can be given to your family's inheritance for up to 125 years, the maximum lifetime of a trust under English law.


Using this type of Legacy & Business Trust Planning in conjunction with BPR-qualifying investments will make a significant difference to what IHT is paid by the family.


Contact Cambridge Wills & Legal Services to find out more. 

Excellent in every way. Our family circumstances were reviewed and understood - the options were provided and discussed - the delivery of the Wills was on time. Unusual in this day and age to have such exceptional service.
Anthony Ekins, St Neots - November 2019
Very good value for money. Friendly and professional.

Mrs S.M., Cambridge - January 2020
Having provided such a great service for my parents, it was only natural that I use Cambridge Wills. A friendly and professional service that I would highly recommend to others.
Kay B., Cambridge - June 2019
Friendly, knowledgeable and efficient. We are very happy to recommend Cambridge Wills where we can.
B. and H., Bury - December 2019
Excellent service. Very professional and friendly. Thoroughly recommended!

Peter and Helen H., Swaffham - February 2019
Excellent, professional service. The whole process was made simple and straightforward. I wish we'd done this years ago!
Mr and Mrs J., Over - April 2019
Cambridge Wills & Legal Services made a tricky process run very smoothly. Friendly and professional service. Highly recommend. Thank you.
Mr and Mrs K., Great Cambourne - December 2018
An informed, practical and professional service that I can wholeheartedly recommend. Thank you for making the rather weighty business of making a Will and LPA easy to understand and complete.
Dr J.C. - April 2019
Excellent service - would recommend to everybody.

Nico and Sheila Rodenburg - March 2020

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