IHT Guide
Inheritance Tax Advice in Teesside
Inheritance Tax can significantly affect the value of an estate passed on to your family. However, understanding whether Inheritance Tax is likely to apply and what planning opportunities may be available can be complicated.
Clive Barwell provides professional Inheritance Tax advice and estate planning for individuals and families across Teesside and beyond.
With extensive experience in later-life financial and estate planning, Clive can help you understand your potential Inheritance Tax position and consider how your Will, Trusts, gifts, property and wider financial arrangements fit together.
How Can Inheritance Tax Advice Help?
Inheritance Tax planning is not simply about reducing a potential tax bill. It is about understanding your overall financial position and making appropriate plans for your estate.
Clive can help you consider:
- The potential Inheritance Tax liability on your estate
- Available tax allowances and exemptions
- The Nil Rate Band
- The Residence Nil Rate Band
- Lifetime gifts and gifting strategies
- Gifts with Reservation of Benefit
- Trusts and their potential role in estate planning
- The treatment of property and other assets
- Existing Wills and estate arrangements
Every estate is different, so the most appropriate approach will depend on your circumstances, assets and objectives.
Inheritance Tax Advice in Teesside
Clive specialises in later-life legal and financial planning, including Inheritance Tax, Wills, Trusts, Probate, estate planning and wider financial planning.
With more than five decades of experience in regulated financial services and professional qualifications including Registered Trust & Estate Practitioner and Chartered status with the Chartered Institute for Securities & Investments, Clive brings extensive experience to complex later-life planning decisions.
His approach is straightforward: understand your circumstances, explain the options available and help you make informed decisions about your financial future and your estate.
Download the IHT Guide
Inheritance Tax (IHT) is a complex UK tax levied on estates exceeding certain thresholds upon death. Although only about 4% of estates were liable in 2023, rising asset values and frozen thresholds mean more families will be affected in the future. The standard Nil Rate Band (NRB) is £325,000 per individual, unchanged since 2009 and frozen until 2030. For married couples or civil partners, unused NRB can be transferred, potentially doubling the allowance to £650,000. An additional Residence NRB of up to £175,000 each applies when leaving a home to direct descendants, allowing some estates to benefit from a combined £1 million threshold.
IHT is charged at 40% on the value above available allowances, with exemptions for transfers to spouses, charities, and certain business or agricultural assets. Planning strategies include lifetime gifting (subject to the 7-year rule), use of trusts, charitable donations, and investing in qualifying assets. Downsizing relief and life assurance can also mitigate liabilities. From April 2026, Business and Agricultural Relief will be capped at £1.25 million per individual, and AIM shares will lose full exemption.
A robust Will is essential to ensure tax efficiency and family protection. Tools such as Deeds of Variation, Trusts, and pension nominations play a critical role in planning. Defined Contribution pension death benefits are currently IHT-free but will be included from April 2027, adding complexity.
Key Actions:
- Assess your estate and potential liability.
- Define goals for wealth transfer and tax mitigation.
- Implement strategies early to maximize effectiveness.
- Seek professional advice for complex cases involving trusts, business assets, or large estates.
My downloadable guide is an introduction and should not replace personalised legal and tax advice, which I can provide.
Download the IHT Guide
Contact Me
Your initial consultation is at your convenience, at my expense, and without obligation. Consultations will generally be conducted online via Microsoft Teams or Zoom. After a preliminary conversation, if you live in or near Teesside, I can provide an at-home service if you prefer.