Inheritance tax Guides

Inheritance Tax (IHT) is complicated and difficult to navigate without expert advice. In this guide we will try to make things as clear as possible for you.

What is Inheritance Tax (IHT)?

What is Inheritance Tax (IHT) and when is it required? In England and Wales, inheritance tax (IHT) typically has to be paid when an individual’s estate (their property, finances and belongings) is worth more than £325,000 when they unfortunately died. However, there may be factors that can increase this amount.

Need help with Inheritance Tax?

Our friendly specialists are here to help you and can offer information and a free, no-obligation quote over the phone. 

Understanding Your allowances

Everybody has a personal allowance for Inheritance Tax – this is called the nil rate band. Inheritance Tax only applies to the part of your estate valued above the nil rate band. This is why many people don’t leave behind an Inheritance Tax bill when they die.

Inheritance Tax Thresholds

Information current up until 5th April 2026 with information on Nil rate band, Residence nil rate band and tables of thresholds for additional Nil rate bands. 

Inheritance Tax Calculator

Estimate the value of your estate and how much inheritance tax may be due when you die. Updated for the 2020-21 tax year and valid until 5 April 2026

Inheritance tax paid on what you leave behind to your heirs, and they could pay as much as 40% tax on what they inherit. 

Reducing or managing an Inheritance Tax bill

There are several ways to manage or reduce an Inheritance Tax bill. This is known as estate planning. Spending or giving away your assets is the simplest form – but there are many other options.

Please note: Advice in relation to trusts and inheritance tax planning is not regulated by the Financial Conduct Authority, however, the products used in relation to trusts and to mitigate tax may be regulated. We are currently applying for authorisation and therefore we do not sell any of the products at present that require us to be authorised.

You can call free on 0808 188 9008 or you can call us on 0207 965 7568 for the London area (Local charges apply) or alternatively call 01380 718199  (Local charges apply).

You can also fax us on 0844 884 8509. at 11p and up per minute from a fax machine.

Correct as of 1-1-2021

Please note: do not call the fax number from a mobile phone as you will be charged 50p per minute and you will not be able to speak to anyone.

Probate Specialist Limited, 5th Floor, 167-169 Great Portland Street, Marylebone London, W1W 5PF

Probate Specialist Limited 126, High Street , Marlborough SN8 1LZ

For general email purposes, you can email info@psl.group 

You can also email your specialist directly on, specialistname@probatespecialistltd.co.uk

Please note: specialistname refers directly to the name of your specialist. You can find further information on the name of your specialist on the about us page. 

Probate Specialist Limited, The Office, 21 Ferozeshah Road, Devizes, Wiltshire SN10 2JQ

Company Number: 13015149

ICO Reg Number ZA807624

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Helping Our Clients

Our main focus is helping our clients. Tax systems are difficult and cumbersome, our qualified accountants have years of experience dealing with tax affairs. 

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The Inheritance Tax Experts

We have extensively trained in Inheritance Tax and we believe that we have the best systems in place to deal with your Inheritance Tax in a fast efficient and accurate manner. 

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Best Practices

Our systems are constantly checked on a daily basis to make sure we are capable of dealing with anything that can literally be thrown at them

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