Inheritance Tax Planning

After death, Inheritance Tax is the tax that is due on any estate valued at more than the nil rate band – currently £325,000 (subject to other rules about the transfer of unused nil rate bands between spouses/civil partners, and the new residence nil rate band which came into force in April 2017).

Inheritance Tax is charged at 40% on all your assets over and above the relevant threshold, and can include things like property, possessions, insurance policies and investments. You should also be aware that an estate’s value for Inheritance Tax purposes can include the deceased’s interest in trust property, and gifts that the deceased may have made during the last seven years of their lifetime.

Inheritance Tax can be a burden for many estates on death. It may be possible to reduce this burden with appropriate planning. We can advise you on its implications and how it may affect you and your estate.

Nick Timmings Petersfields LLP

Get in touch

Nick Timmings is a partner and has been a qualified solicitor since 1993. Nick deals with private client matters. More about Nick.
Call our Cambridge office:
01223 653210

Call our Milton office:
01223 928055

Call our Haverhill office:
01440 713223

Long term care

In addition to the above services, we can provide advice and assistance with issues relating to the costs of long term care, and we can also assist with appeals against decisions made by the NHS about NHS continuing healthcare.