Tax & Financial Planning

Inheritance Tax & Estate Planning

Planning for the future can feel overwhelming and complicated.

At Aston Shaw, our experienced team will work with you to devise an inheritance tax planning strategy that will both minimise your tax liabilities and ensure your future wishes are enacted.

Whatever the size of your estate, we can advise on methods to help you pass on your assets more effectively and tax-efficiently.

Inheritance Tax Planning Advice with Aston Shaw 

Our inheritance tax planning service includes;

Coordinating all estate duty advice.
Assisting in the necessary administration to make lifetime gifts, whether from income or capital.
Coordinating the drafting of tax efficient wills that benefit the people of your choosing.
Ensuring the efficient use of the spouse exemption and transferable nil rate bands.
Checking to see if you qualify for any available reliefs or exemptions.
Establish trusts to protect your foreign assets from inheritance tax, if you don’t live in the UK
Facilitating the establishment of trusts.
Advising on and coordinating the reorganisation of trusts.
Advising on tax efficient options available to beneficiaries due to inherit from estates.

The Aston Shaw Approach

At Aston Shaw, we can help you to plan ahead and make any necessary arrangements to keep inheritance tax payments to a minimum. Our team are experts in inheritance tax planning and will make it as easy and straightforward as possible, so you can get on with enjoying your life.

We make sure that every client has their own dedicated team, with a team of client advisors and specialist accountants working closely together.

This helps to give you a fast response and a quick turnaround time, as well as a team of expert accountants who are on hand to help and advise you on your personal tax return, and any other requirements you may have.

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FAQs on Inheritance Tax Planning

What is Inheritance Tax?

Inheritance Tax is a tax on the estate, the property, money and possessions, of someone who has died.

The current threshold for inheritance tax is £325,000 meaning that if your estate is valued above this, inheritance tax will have to be paid. 

The standard Inheritance Tax rate is 40% however, it is only charged on the part of your estate that is above the £325,000 threshold.

There is also a residential nil rate band of £175,000 available to individuals in addition to the £325,000 if certain conditions are met. Reviewing your estates and wills is crucial to ensure this additional relief is available to your estate where possible.