Inheritance Tax Solicitors

Our Inheritance Tax lawyers will consider your whole situation, family as well as financial, taking into account the capital gains tax and income tax implications as well as inheritance tax. We never lose sight of your need to make sure that you yourself have enough to live on and we will give you clear and sensible advice about tax planning opportunities.

Our Inheritance Tax solicitors appreciate that tax planning can be complex and that it can be difficult to take in all the implications in one go. We have plain English guidance notes and are happy to talk matters through with you more than once.

Your dedicated Inheritance Tax lawyer will review your current family and financial circumstances in conjunction with your goals and look at inheritance tax planning opportunities during your lifetime to include gifting either to individuals or into trusts and on death through your Will.

We are aware of other planning by using financial products and can give you impartial advice about the impact of the different products.  We cannot advise on the individual products as we are not authorised to do so but we can put you in touch with suitably qualified third parties to assist you.

Our Inheritance Tax solicitors can assist you with utilising the various Inheritance Tax exemptions and direct benefits such as pensions or life policies outside of your estate for Inheritance Tax purposes whilst retaining control of the asset and allowing your family to benefit in the most tax efficient manner.

For tax planning on death, we can advise how to make the most of your exemptions, including

• Agricultural Property Relief
• Business Property Relief
• The Inheritance Tax threshold, for unmarried couples
• The Residence Nil Rate Band, especially where the estate is near £2 million or you intend to leave part of it to beneficiaries who are not your spouse or direct descendants
• The Transferable Inheritance Tax threshold, where one or both party(ies) to the marriage has been widowed previously

We can also advise on the use of trusts both to reduce Inheritance Tax down the generations, and to make sure your assets stay within the family.

• Recognised Expertise:  Myerson’s Private Wealth sector proudly holds a Band 2 ranking in the Chambers and Partners High Net Worth Guide, alongside being consistently recognised as a Top Tier law firm by The Legal 500 for the past seven years. As one of the Top 200 UK law firms, Myerson provides exceptional Wills, Trusts, and Probate legal expertise. 

• Qualified Professionals: Our team holds additional qualifications in trust administration and tax regimes for trusts, along with the prestigious STEP (Society of Trust and Estate Practitioners) qualification. We have extensive experience setting up and managing live trusts, ensuring we understand the practicalities of trust operation and drafting. 

• Comprehensive Support: We provide tailored advice that respects each client's unique circumstances and understands the emotional weight of estate matters. Our solicitors handle sensitive situations with care, offering support throughout the process. 

• Holistic Approach: Our holistic strategy allows us to identify tax-saving opportunities and mitigate unexpected liabilities. We ensure clients comprehend the purpose and functioning of trusts, providing city-quality advice at regional prices. 

• Partner-Led Service: Our partner-led approach guarantees the best legal advice and commercially minded support. We collaborate with family and property law teams, delivering a comprehensive service that addresses all aspects of estate management. 

• Specialist Expertise: Our highly ranked team in The Legal 500 and Chambers for personal tax, trusts, and probate works closely with our contested wills solicitors to provide expert advice tailored to your needs. 

• Recognised Leaders: Bik-ki Wong, Head of our Private Client team, has been recognised as one of the top influential private wealth lawyers in Manchester (2023) by Business Today and as one of the best probate and wills lawyers for high-net-worth individuals in the UK (2023) by Spear's. 

• Extensive Network: Through our UK200 Group membership, we have strong connections to Independent Financial Advisers (IFAs) and tax advisers, offering comprehensive support tailored to your specific requirements. 

• Catering to Diverse Needs: Our team includes fluent Cantonese speakers, ensuring effective communication and understanding in managing estates. 

• Look at the Myerson Promise for further benefits of working with us here.