Our Comprehensive Inheritance Tax Services

Estate Planning 

We pride ourselves on offering tailored and strategic advice to address your specific inheritance tax concerns. Through personalised consultations, we take the time to comprehensively understand the intricacies of your estate. Our expert solicitors then meticulously analyse your financial landscape, developing bespoke strategies to minimise your inheritance tax liabilities effectively. We go beyond generic solutions, focusing on your unique circumstances.  

Our dedicated team excels in creating strategic estate plans designed to safeguard your assets and provide financial security for your loved ones. With our meticulous approach to strategic planning, you can rest assured that your estate is optimised for tax efficiency, ensuring a secure financial future for your family. 

 

Probate Assistance 

Navigating the probate process and understanding inheritance tax can be overwhelming. At GSB, we provide invaluable probate guidance to executors, simplifying the complexities of inheritance tax. Our expert team excels in handling intricate tax calculations, ensuring accurate reporting and compliance with tax laws.  

With our assistance, executors can confidently fulfil their duties, knowing that every detail of their inheritance tax obligations are meticulously managed. By entrusting us with these crucial tasks, you can focus on honouring your loved one’s legacy, secure in the knowledge that the legal complexities are in capable hands. 

 

Inheritance Tax Mitigation 

Our dedicated team specialises in maximising tax efficiency, diligently exploring legal avenues to mitigate your inheritance tax liability. We offer expert guidance on trusts, reliefs, and exemptions, empowering you to make informed decisions tailored to your specific needs.  

Through careful analysis and in-depth knowledge of tax laws, our experts provide strategic advice, allowing you to minimise tax burdens effectively. By using trusts and reliefs, we create a customised plan for your estate, optimising it to reduce tax liabilities. With our assistance, you can rest assured that your assets are protected, and your loved ones are spared unnecessary financial burdens, ensuring a seamless transfer of wealth while maximising your tax efficiency. 

 

Legal Compliance 

At GSB, we take the burden of tax compliance off your shoulders. Our team ensures meticulous adherence to all legal requirements and deadlines associated with inheritance tax, safeguarding you from unnecessary penalties. 

Our dedicated solicitors handle the entire process, from preparation to submission, with precision and efficiency. By entrusting us with your documentation, you can rest easy knowing that every detail is accurate and promptly submitted. We streamline the inheritance tax process, allowing you to focus on what matters most while we navigate the intricate legal paperwork on your behalf. With our expertise, you can be confident that your tax compliance is in capable hands, ensuring a smooth and hassle-free experience. 

FAQs

The nil-rate band, also referred to as the inheritance tax threshold, is the maximum value of an estate that can be inherited tax-free upon death.

For individuals, the inheritance tax threshold stands at £325,000. If an estate’s value is below this threshold, no inheritance tax needs to be paid. In the case of married couples and civil partners, any unused portion of the nil-rate band can be passed on to the surviving spouse or partner, essentially increasing the threshold for couples to £650,000.

The “7 year rule” states that gifts given are not subject to tax if the giver lives for 7 years after giving them, except if the gift is part of a trust. However, if the individual passes away within seven years of making a gift, the value of the gift may be subject to inheritance tax.