Inheritance tax planning can be a complex subject as there are many factors to consider, the value of your assets will determine if you will be required to pay inheritance tax on your estate, however, there are exemptions and reliefs you may be legible to apply to your inheritance plan and reduce your tax liability.

 

The laws around who you transfer your assets to, both before and after your death have been amended many times in recent years, and likewise the nil band rating, which is the tax-free proportion of your estate. It's important that professional advice is taken on so any liabilities can be identified and addressed.