Inheritance tax planning, Guildford
Explore how we can help with the legal protection and management of your wealth and assets.
Contact our teamIn the heart of Guildford, Moore Barlow Solicitors offers expert Inheritance Tax Planning services to individuals and families seeking to protect their legacies.
Guildford’s rich history and thriving community deserve careful consideration when planning for the future. Our dedicated solicitors are here to help you navigate the complexities of inheritance tax, ensuring your assets are preserved and passed on in accordance with your wishes.
What is inheritance tax planning?
Inheritance tax planning is a strategic financial process that involves preparing for the efficient transfer of assets and wealth to the next generation while minimising the inheritance tax liability. This entails the use of legal instruments, tax exemptions, and various planning strategies to protect and maximise the value of an estate, ensuring that beneficiaries receive their intended inheritance without excessive tax burdens.
Why choose us?
Our inheritance tax planning solicitors in Guildford are known for their expertise in addressing the diverse needs of this thriving Surrey town. By choosing our Guildford-based team, you’re selecting professionals who understand the financial intricacies unique to Guildford’s residents. We provide tailored strategies that protect your assets from excessive taxation while preserving your wealth for future generations. Our commitment to serving the Guildford community ensures that your inheritance tax planning is personalised and aligned with your long-term financial objectives.
As well as our team’s extensive experience in inheritance tax planning, Moore Barlow holds accreditations that reflect our commitment to providing exceptional legal services. We are recognised by the Society of Trust and Estate Practitioners (STEP), ensuring our advisors are experts in the complexities of tax, trusts, estates and succession planning. We’re also rated highly in independent legal directories like The Legal 500 and Chambers UK. In addition to technical expertise, we offer a personalised approach tailored to the unique financial goals of each client, and our local presence in Guildford means we understand the regional property and wealth landscapes intimately — something many larger, national firms may overlook.
How we can help
Our inheritance tax planning solicitors in Guildford offer comprehensive support to address the diverse financial needs of residents. We can assist you in developing effective strategies to safeguard your assets from undue taxation and secure a tax-efficient legacy for your loved ones. With our in-depth knowledge of the local and national financial landscape, we ensure that your inheritance tax planning is customised to your specific goals.
Our services cover a broad spectrum of inheritance tax planning needs, including drafting lifetime gifting strategies, advising on tax-efficient use of trusts, and assisting with agricultural property relief and business property relief for farmers and business owners. We also help clients navigate the complexities of residence nil-rate band planning, cross-border estate matters, and re-structuring estates to optimise tax outcomes. For clients with high-value estates, we offer advanced planning involving Family Investment Companies and bespoke discretionary trust arrangements tailored to complex asset holdings.
Our team of private wealth solicitors
Common mistakes in inheritance tax planning
One of the most frequent mistakes in inheritance tax planning is underestimating the value of your estate, particularly when factoring in rising property prices. Many individuals also overlook the tax implications of life insurance policies and jointly held assets. Others mistakenly assume that they can gift unlimited amounts to family members without risk, not realising the importance of documentation and timing. Working with a specialist ensures that your strategy is not only effective but also compliant with current HMRC regulations.
Benefits of early inheritance tax planning
Commencing inheritance tax planning early allows for more flexibility in how wealth is transferred. It can provide peace of mind, ensure minimal disruption to your family, and allow you to witness the benefits of your legacy. Early planning opens opportunities for tax-efficient gifting, the use of trusts, lifetime transfers, and charitable donations — all of which can significantly reduce tax liability and better reflect your long-term intentions.
Why local expertise matters
Inheritance tax can vary in complexity depending on regional factors such as local property values, land ownership, and business interests. Having a solicitor with a deep understanding of the Guildford area ensures your estate planning accounts for these nuances. From high-value family homes in Surrey to investment portfolios with assets spread across jurisdictions, local expertise helps ensure your plan is grounded in both accurate legal knowledge and an awareness of the local economic landscape.
Who we help
We can assist a wide range of clients, from local residents to business owners, in developing effective strategies to protect their assets and achieve a tax-efficient wealth transfer. Whether you have complex financial holdings or more straightforward assets, our solicitors are dedicated to tailoring solutions to meet your specific goals if you live or work in the Guildford area.
We work with a diverse range of clients, including entrepreneurs seeking to protect business assets, high-net-worth individuals with investments and property portfolios, and multi-generational families planning long-term wealth preservation. Our clients often include medical professionals, landowners, retirees, and individuals inheriting wealth who want to make informed decisions for future generations. Additionally, we support clients in specialised sectors such as agriculture, technology, and family-owned enterprises, providing specialist knowledge of sector-specific tax reliefs and exemptions.
Contact us
Guildford and Surrey residents can trust our skilled solicitors for all your inheritance tax planning needs. Let us help you protect your assets. Contact us now to schedule an appointment at our Guildford office.
We have offices in London, Richmond, Southampton, Guildford, Lymington and Woking and offer specialist private wealth legal services to clients nationwide. Contact Moore Barlow to find out how we can help you and your family.
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Frequently asked questions – Inheritance Tax Planning
How much can I gift each year without paying inheritance tax?
You can give away up to £3,000 each tax year free from inheritance tax. This is known as your annual exemption. Unused allowance from the previous year can also be carried forward, potentially allowing you to gift £6,000 tax-free. There are also other exemptions for small gifts and wedding gifts.
What is the seven-year rule in inheritance tax?
Gifts made more than seven years before your death are usually exempt from inheritance tax. If you die within seven years of making a gift, the gift may still be taxable, with the amount of tax tapering down depending on how long you survive after making the gift.
Can trusts help reduce inheritance tax liability?
Yes, trusts can be a valuable tool for inheritance tax planning, helping to protect assets and manage how wealth is distributed. Certain types of trusts can move assets out of your estate for tax purposes, though it’s important to use them correctly to ensure the intended tax benefits are realised.
What is residence nil-rate band and how does it affect inheritance tax?
The residence nil-rate band (RNRB) is an additional inheritance tax allowance available when a main residence is left to direct descendants. As of the 2024/25 tax year, it allows an added tax-free amount of up to £175,000 per person, potentially reducing the inheritance tax bill on your estate.
Do business owners qualify for any inheritance tax relief?
Yes, certain business assets may qualify for Business Property Relief (BPR), which can reduce the value of the business or its assets transferred either during your lifetime or as part of your will. If eligible, BPR can provide up to 100% relief, making proper estate planning crucial for business owners.
When should I start planning for inheritance tax?
The earlier you start planning, the more options you have to structure your estate efficiently. Ideally, inheritance tax planning should begin as soon as you start to accumulate significant assets or experience a change in circumstances such as marriage, having children, or receiving an inheritance.
