How to Legally Reduce Inheritance Tax in the UK

There are several HMRC-approved ways to reduce an inheritance tax bill. The most effective strategies depend on the size of the estate, the assets held, and how long is available for planning.

Key strategies include: lifetime gifting using the 7-year rule and annual exemptions, trusts, life insurance written in trust, maximising the residence nil-rate band, Business Property Relief, Agricultural Property Relief, and charitable donations to reduce the tax rate from 40% to 36%.

• Gifting Planner
• 7-Year Rule
• Will Health Check
• IHT Calculator
• Find a Solicitor