UHY Ross Brooke Chartered Accountants

Intending to leave a gift to the taxman of £239k?

inheritance tax advisor

The average Inheritance Tax bill is estimated to rise to £239,000 this year. With rising house prices, and a freeze on thresholds until April 2028, around 30,000 families are predicted to be affected this year alone. Revenue from IHT to the Treasury for 2022/23 was over £7bn, and the total for this tax year to December was already £400m above last year’s, based on the same period.

With the average house price of £257,656* bereaved families might feel hard-done by, that they have paid the equivalent of a house in tax, but there are ways to reduce the IHT tax bill.

Obviously the easiest way to reduce the IHT bill is with careful investment and tax planning, during the lifetime of the donor. For those whose estate risks falling into the IHT net, it may be worth consulting a tax specialist to see how to reduce the liability and pass more on to the people they want to receive it.

We have a team of specialist tax advisors with expertise in inheritance planning, and for when the bell tolls, probate specialists too. Do get in touch to see how we can reduce your IHT bill.

*According to the Nationwide Jan 2024

Next steps

Meet our probate specialists in Abingdon

We are highly experienced and licensed probate practitioners, licensed by the Institute of Chartered Accountants in England and Wales (ICAEW), a licensing body for probate.

As full members of STEP (Society of Trust and Estate Practitioners) our services include probate activities, will writing, estate planning, applications for grants of probate, the administration of estates and the administration of trusts. We can advise on and minimise tax liability on Inheritance Tax and taxes related to trusts and estates.

We have the experience to ensure that the management of the estate will be handled professionally and sensitively. To find out how we can help you, please fill in the form below to contact one of our probate advisors in Abingdon.

Our probate specialists are based in Abingdon, Oxfordshire, and we have 4 offices across Berkshire, Oxfordshire and Wiltshire, and look after probate, estate, trust and tax clients from all across the UK.

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Newbury: 01635 555666
Abingdon: 01235 251252
Swindon: 01793 610008
Hungerford: 01488 682546