Think Inheritance Tax is only for the ultra-wealthy? Think again.
At WT Solicitors, we regularly help families who didn’t realise their estate could face a 40% tax bill — until it was too late to act.
Let’s clear up some key myths and facts:
❌ Myth #1: “My estate’s not big enough to pay Inheritance Tax.”
✅ Fact: If your estate (including property) is over £325,000, it may be taxable. For couples, unused allowances can be transferred — but planning is key.
❌ Myth #2: “I’ll just give everything to my kids now.”
✅ Fact: Gifts can reduce your estate for IHT — but only if you live 7 years after making them, and only in certain circumstances.
❌ Myth #3: “A Will is all I need.”
✅ Fact: A Will sets out who inherits — but IHT planning ensures they don’t lose a huge chunk of it in tax. Trusts, allowances, and exemptions all play a role.
💡 The earlier you plan, the more options you have.
📞 Need help protecting your estate from unnecessary tax? Speak to our inheritance tax team today:
🔗 willsandtrustssolicitors.com
📞 01844 899150
📩 info@willsandtrustssolicitors.com
For more information you can visit HMRC
⚖️ General info only – not legal advice.
