Inheritance Tax and Estate Planning

We are able to give specialist tailored advice to help clients plan for the future. We have assisted many clients with tax saving techniques through the use of certain types of Wills and Trusts. Often the type of Will or Trust used will depend on the familial and business circumstances of the client and our team have many years of experience in gauging the right option for a particular client.

When a person dies the value of their assets after payment of any liabilities (known as their estate) is assessed for Inheritance Tax.  The rate of the tax currently is 40% but there are reliefs and exemptions which can apply to the estate before any tax is assessed.  The first £325,000 of an estate is exempt and this is called the Nil Rate Band for Inheritance Tax purposes.  The estate valued over £325,000 is usually taxed then at 40%.

Any part of the estate passing to a spouse or civil partner is completely exempt from Inheritance Tax.

After April 2017 there is an additional exemption called the Residence Nil Rate Band (RNRB) whereby a further £100,000 (rising to £175,000 by 2020) can be added to the existing £325,000 nil band meaning that in April 2017 onwards at least the first £425,000 of an estate will be free of Inheritance Tax.  Needless to say there are requirements to be met for this relief to apply i.e Terms & Conditions apply.

The Inheritance Tax position of a deceased person can be very complicated and legal advice should always be sought from a specialist Probate Solicitor. 

We are able to boast the expertise of Allison Kent and Beverly Bowen who are both one of a small number of full members of the STEP (Society of Trust and Estate Practitioners). Allison and Bev both specialise in advising clients with high value estates in order to reduce and minimise any potential tax liability, with the expertise to be able to give estate planning and tax advice to agricultural and business clients.

It can also be the case that the best option for a client will not necessarily be Will or Trust based and we can also give advice on and assist with the making of lifetime gifts, for example a gift of a property to a child. In such circumstances it is important to consider the implications of making gifts and we are able to provide a client with the options available to them and the implications involved.

  • Arwel Davies
      • 01348 871013
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  • Mike Downey
      • Mike Downey
      • Director & Head of Lifetime Planning - South East Wales
      • 029 2085 5277
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  • Ian Fudge
      • 01437 771 171
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  • Richard Howells
      • 01267 248 981
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  • Chris Shaw
      • 01792 529 648
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  • Beverley Bowen
      • 01267 266 948
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  • Sean Boucher
      • 01267 248 986
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  • Jane Chesterman
      • 01446 771742
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  • Joanna Fenoulhet
      • 01446 776081
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  • Laura Wishart
      • 01446 771742
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  • Allison Kent
      • 01792 525 434
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  • Anthony  Taylor
      • 01446 771742
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  • Meinir Jenkins
      • 01792 525 411
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  • Denise Cook
      • 01446 771742
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  • Shirley Kennea
      • 01348 871131
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  • Pat Sherwood
      • 01348 871016
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  • Jean Williams
      • 01267 248891
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  • Rachel Morris
      • 01792 525 473
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Chris Shaw

Richard Howells

Arwel Davies

Ian Fudge

Beverley Bowen

Dymphna Powell

Sean Boucher

Peter Cross

Allison Kent

Rachel Morris

Jordan Carridge

Meinir Jenkins

Jean Williams

Shirley Kennea

Pat Sherwood

Sian Stark