Ensure your estate is passed on efficiently and thoughtfully with professional Inheritance Tax Planning tailored to your unique circumstances

Why Choose Inheritance Tax Planning?

Tax treatment depends on individual circumstances and may change in future. Advice should be tailored to your specific needs and objectives.

Despite less than 4% of estates in the UK typically being subject to inheritance tax, HMRC still gathered more than £6.8 billion in revenue in 2023. Without inheritance tax planning in place, your loved one’s legacy could subject to major tax liabilities, meaning that they end up with much less financial support than you intended. Inadequate inheritance tax planning can also lead to errors or oversights that add to your liabilities, in addition to complications and delays during the probate process. You can avoid all the associated distress and financial strain these holdups can cause by talking to a WealthMax advisor, who can help you mitigate these risks and preserve your family’s inheritance.

Inheritance Tax Planning is a valuable step to help ensure your hard-earned wealth is passed on to your loved ones. With the right strategy, you can reduce tax exposure and protect your estate for future generations.

What are Benefits of Inheritance Tax Planning?

Inheritance Tax Planning is important to ensure your hard-earned wealth is passed on to your loved ones. The other benefits of planning are stated below.

Minimise Tax Liability

Reduce the amount of inheritance tax your family may need to pay, ensuring more of your wealth is preserved.

Protect Family Wealth

Safeguard assets such as property, savings or investments so they pass on to your loved ones rather than being lost to taxes.

Provide Financial Security for Loved Ones

Ensure your spouse, children, or chosen beneficiaries receive the maximum benefit from your estate.

Greater Control Over Your Estate

Decide exactly how your wealth is distributed, rather than leaving it entirely to tax laws.

Avoid Unnecessary Stress for Family

Proper planning simplifies the inheritance process, easing the burden on family members during difficult times.

Illustration showing inheritance tax planning strategy for estate protection

Inheritance Tax Calculator

Q: How much Inheritance tax do I have to pay?

In the UK, inheritance tax is typically levied at a rate of 40% on the value of your estate above the tax-free threshold, which is £325,000 as of 2023/24. However, certain exemptions, reliefs, and planning strategies can reduce or eliminate this tax liability.

Q: Can I leave my house to my children without paying inheritance tax?

Yes, you can leave your house to your children without paying inheritance tax in the UK, provided the total value of your estate, including the house, falls within the tax-free threshold of £325,000. Additionally, certain exemptions and reliefs, such as the residence nil-rate band, may apply to further reduce inheritance tax liabilities.

Q: Do you pay inheritance tax when the first partner dies?

In the UK, inheritance tax is usually not paid when the first partner dies if assets are passed to the surviving spouse or civil partner, as transfers between spouses are generally exempt from inheritance tax.

Estimate your IHT liability under the current April 2026 rules and see the impact of the upcoming April 2027 pension changes.

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Client Profile & Assets

Marital status and general assets

Marital / civil partnership status

How much of the deceased spouse's NRB was used ?

Transfer unused Residence Nil-Rate Band?

General Assets

Enter the value of your assets below. Do not include your main residence, business/agricultural assets, or pensions here (these are captured in the next steps).

Cash & Bank Accounts

Investments (ISAs, non-BPR shares, etc.)

Other Property (Buy-to-lets, holiday homes)

Chattels (Vehicles, art, jewellery, furniture)

Other Assets / Life Cover (not in trust)

Liabilities & Debts (Mortgages, loans, etc.)

This will be deducted from your total asset value to calculate your net estate.

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Property & Residence

Residence Nil-Rate Band eligibility

Does the estate include a main residence?

Value of the main residence

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Business & Agricultural Property

Reflecting April 2026 Reforms

⚡April 2026 Rules: The £2.5M combined BPR/APR allowance applies. AIM shares qualify for 50% relief only.

Does the estate include qualifying business/agricultural assets?

Asset Type

Value of business / agricultural assets

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Pension Assets

April 2027 inclusion preview

⏰From 6 April 2027, most undrawn pension funds will be included in the taxable estate.

Does the client have undrawn pension funds?

Estimated pension fund value

IHT Estimate

Current Rules (April 2026)

Effective Tax

Reliefs & Bands£0

IHT Liability£0

Net to Heirs£0

Total Assets£0

Net Estate£0

BPR / APR Relief−£0

Nil-Rate Band−£0

Residence NRB−£0

Chargeable Estate£0

ESTIMATED IHT LIABILITY

£0

Business Relief Investment Scenario

Potential BR Investment Amount

Potential Tax Saving

£0

NEW LIABILITY

£0

Important Information: This calculator is provided by Wealthmax for illustrative and educational purposes only. Results are indicative and based on our current understanding of UK Inheritance Tax law as of 2026. This tool does not account for gifts within seven years of death, charitable donations, downsizing allowances, or complex estate structures. It does not constitute financial, tax, or legal advice. Tax rules are subject to change. Always consult a qualified Wealthmax adviser regarding your specific circumstances.

How much Inheritance tax do I have to pay?

Can I leave my house to my children without paying inheritance tax?

Do you pay inheritance tax when the first partner dies?

Looking to Plan for Inheritance Tax Efficiently?

At Wealthmax Financial Advisers, we’re here to help. Our experienced advisers can guide you through inheritance tax planning, helping you structure your assets effectively to reduce potential tax liabilities and pass on more of your wealth to your loved ones.