Inheritance Tax Planning: A structured approach to protecting family wealth
Effective Inheritance Tax (IHT) planning rarely comes down to a single decision or a product-based solution. It should be a strategy built around considerations such as your stage of life, family structure, liquidity position, business interests, health and long-term objectives.
The approach appropriate for a business owner in their 50s who is still accumulating wealth will differ significantly from that of a retired individual focused on capital preservation, income security and leaving their estate to family members. Tax exposure, control preferences, income requirements and family dynamics all materially influence the suitability of any strategy.
This guide provides a clear, client-friendly but technically robust overview of the principal IHT planning approaches available. These include lifetime gifting, trust planning, Business Relief, Enterprise Investment Scheme (EIS) investing, Family Investment Companies (FICs), insurance-based liquidity planning and charitable structuring.
There is no universal solution. Effective IHT planning typically involves layering strategies over time and reviewing them regularly as legislation, asset values and personal circumstances change.
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