Inheritance Tax

Our Services

At Boyletts Law we understand how important inheritance tax and estate planning is to you. We provide a friendly and personal service that puts you and your needs first. Our team will talk you through the mechanics of how inheritance tax works and all the possible tools which can be used to help mitigate any liability from your estate.

What is Inheritance Tax?

Inheritance Tax is payable on your estate when you die. The current tax-free allowance available (known as the nil-rate band) is £325,000. In simple terms, if the value of your estate is more than the tax-free allowance, then your estate could be taxed at 40% on the balance.

Your estate, for Inheritance Tax purposes, is made up of everything you own in your sole name, after any debts, bills and liabilities. The assets included are as follows:

  • Property (sole name or tenants in common)
  • Bank accounts
  • Savings
  • ISAs
  • Stocks and shares
  • Personal effects (Jewellery, car, collectibles)

There are a number of additional tax-free allowances which your estate could also qualify for and these can be claimed with careful estate planning and a well drafted Will.

Use our Inheritance Tax Calculator to find out more about your tax liability.

Inheritance Tax and Estate Planning

We offer a full Inheritance Tax and Estate Planning service, and we provide this advice as part of a fixed fee service when preparing your Will. Our team will be able to answer all your inheritance tax questions and provide you with advice tailored to your own circumstances.

Our approach is to have a friendly conversation with you to learn about you and what you are trying to achieve. With careful planning our expert Lawyers will help you to reduce the inheritance tax payable by your estate and possibly avoid it all together.

IHT and Estate Planning Service

We provide specialist advice on Inheritance Tax using tools such as:

  • Making use of the nil-rate band and transferable nil-rate band
  • Making use of the residence nil-rate band and transferable residence nil-rate band
  • Gifts from surplus income
  • Annual exemptions
  • Small gifts
  • Charitable giving
  • Wedding gifts
  • Reliefs for business and agricultural property
  • Trusts
  • Potentially exempt transfers
Make an enquiry

If you would like to arrange an appointment please contact our friendly team today on 01279 295047

or by completing our online enquiry form.

CONTACT US

Office hours

Monday: 9am - 5pm
Tuesday: 9am - 5pm
Wednesday: 9am - 5pm
Thursday: 9am - 8pm
Friday: 9am - 4pm
Saturday: By appointment

Appointments

We have FREE onsite parking, disabled access and in addition to meetings at the office, we are able to arrange appointments by Zoom, Skype, FaceTime or telephone. We also offer free home visits if required.