Inheritance Tax Solicitors

Inheritance Tax Solicitors

Inheritance Tax Solicitors Serving Gosforth, Newcastle Upon Tyne, And Nationally

Inheritance Tax SolicitorsPlanning for your loved ones’ future and helping them be free of the burden of paying tax on what you have earned in your life is a sensible step for us all. Our Inheritance Tax solicitors are ready to advise and work with you to create a secure, tax-efficient future for your family.

We understand how challenging inheritance rules can feel. Tax laws are complex. They also change regularly. But you want to be sure your family benefits as much as they legally can from all of your hard work.

For the last 30 years and more, our highly experienced tax specialists have helped guide clients from all walks of life and unique circumstances towards tax goals that are personal to them.

With a 99% customer satisfaction rate and 5-star Google reviews, we provide sensitive and thoughtful support that helps you navigate the often complicated UK tax system.

Reach out to us on 0191 284 5030 or complete a Free Online Enquiry to get a free, no-obligation quotation or arrange a discussion about your tax concerns or goals with zero commitment.

“I cannot fault the professionalism and helpfulness throughout what has been a difficult time. I would not hesitate to use your services again and would recommend you to others.”(Mrs S)

How Much Inheritance Tax Will I Have To Pay?

We understand that Inheritance Tax can be a major source of worry if you are concerned that the fruits of your long working life may not go to your loved ones.

If this sounds like you, it is good to know that the so-called “nil rate” band of Inheritance Tax is currently set at £325 000. This means that if the value of your estate – the sum of your property, money, and possessions – is lower than this threshold, you will not have to pay any Inheritance Tax.

If your estate is valued above the £325 000 threshold, you will currently pay a 40% rate of Inheritance Tax on everything above this amount. For example, if your estate was valued at £400 000, you would pay 40% on the £75 000 of this amount that is above the “nil rate”.

If this may be the case for you, there are several sensible legal measures you can take when you think that the value of your estate will rise above this threshold. This will most often be due to the value of the family home.

Our solicitors have over three decades of experience helping our clients understand these laws and working towards the tax-efficient solution that is best for them. We are always happy to accept enquiries for more information.

How Can Our Solicitors Help With Inheritance Tax?

The first and most important thing we can do is ensure that your will is written correctly and securely. This and other measures will help you take advantage of the several simple ways it is possible to maximise that nil rate of Inheritance Tax, such as:

  • Leaving everything to your married or civil partner
  • Leaving your main residence to your children or grandchildren
  • Leaving your unused tax allowance to your partner
  • Using any of the wide range of “allowances” to gift money to others
  • Using life insurance, trusts, and charitable giving

Let’s Discuss Other Ways To Reduce Inheritance Tax

However, it is important to bear in mind that your circumstances are unique to you. Some people are in a position where these measures won’t work. We recognise this.

For instance, you may have been cohabiting with your partner for decades and have several children together. According to the law though, this would not meet the conditions for tax-free inheritance by leaving everything to your partner. You must be married or in a civil partnership.

This is a common situation that we help our clients with. No matter your situation though, our inheritance tax solicitors will have extensive experience understanding one just like it.

We understand the best ways to reduce inheritance tax to help you protect your family from paying more than they need to.

Make A Free Initial Enquiry With Our Inheritance Tax Solicitors

When you’re looking for “inheritance tax solicitors near me”, it can be difficult to know who can help you and how they will do it.

We are always happy to sit down and chat with you about putting sensible, secure inheritance tax arrangements in place. That might include writing a strong will, deciding who to leave property or lifetime gifts to, and many other tax planning activities.

Contact us on 0191 284 5030 or complete a Free Online Enquiry to get a free initial quote on our fixed fees or to set up that commitment-free discussion.

“I would definitely recommend you to others – Thank you very much.”(Mr L)

Make A Free Enquiry

    Make a Free Enquiry

    Please call us on 0191 284 5030 or complete a Free Online Enquiry and we will soon be in touch.