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Inheritance Tax (IHT) can significantly impact the value of your estate passed on to loved ones. Without proper planning, up to 40% of your estate above the tax-free thresholds may be owed in tax. Our professional Inheritance Tax Planning Services are designed to help you protect your assets, reduce the tax burden, and ensure your estate is distributed according to your wishes.
Inheritance Tax planning is essential for individuals and families who want to:
At HHM Chartered Accountants & Tax Advisors, we offer comprehensive and personalised solutions tailored to your unique circumstances. Here’s how we can help:
With extensive experience in Accountancy, UK Tax services and Business Advisory, our team is well-versed in all aspects of compliance and tax-saving opportunities. We keep up with the latest tax regulations, ensuring you always receive accurate, strategic advice tailored to your specific circumstances.
At HHM, we value integrity and transparency, and our clients trust us to act in their best interests. We’re more than just Chartered Accountants—we’re an extension of your team, here to support you at every step.
Success isn’t just about the present; it’s about planning for the future. Our proactive approach to accounting and tax planning means we identify opportunities and anticipate challenges before they arise, helping you make the most of your investments over the long term.
We know every client’s needs are different. By getting to know you and your financial goals, we provide advice that’s as unique as you are. From tailored tax planning to ongoing support, we’re dedicated to helping you make confident, informed decisions.
Save time and reduce stress with our precise bookkeeping, payroll, online accounting, end of year reporting, and management accounting solutions tailored to your needs.
File with confidence and avoid costly errors. Our tax experts handle self assessment and taxes on income from all sources including foreign income, capital gains, inheritance, and self-employment, making tax season stress-free.
Protect your business and maximise your profitability with comprehensive tax services, including corporation tax, CIS and VAT. We support you to stay compliant and maximise savings.
Gain peace of mind with professional support during HMRC compliance checks. We manage the process for you, minimising risk and stress.
Stay compliant and future-ready with VAT and Making Tax Digital support that’s easy, accurate, and ensures no deadlines are missed.
Keep more of what you earn with proactive tax planning strategies that optimise your finances and reduce your tax burden.
Yes, inheritance tax can be paid in instalments under specific conditions. If the estate may take time to sell, you may opt to pay the tax in up to 10 annual instalments. However, interest may apply to the unpaid balance.
Inheritance tax is generally due within six months of the person’s death. If payment is delayed beyond this period, interest will accrue. In cases where instalments are allowed (e.g., for specific types of assets), payments can be spread over 10 years, but interest is charged on outstanding amounts
UK inheritance tax applies to the estate of anyone who is UK domiciled, even if they are not living in the UK at the time of their death. Non-UK residents are only liable to inheritance tax on their UK-based assets.
Yes, interest is charged on unpaid inheritance tax from the due date. The current interest rate varies over time and is determined by HMRC. Additionally, if tax is paid in instalments, interest applies to the remaining balance, even if the payments are made on time.
No capital gains tax (CGT) is due when you inherit property, but it may apply if you later sell the property. The CGT is based on the difference between the property’s value at the time of inheritance and its sale price.
