How Much Does an Inheritance Tax Advisor Cost?
The cost depends on the complexity of your estate and the type of professional you use. For a comprehensive IHT plan, advisers typically charge between 0.5% and 2% of the net estate value.
Solicitors charge either a flat fee or an hourly rate. Hourly rates in England typically run from £265 to £390 per hour plus VAT. Completing an IHT return for HMRC as part of probate can add £877 to £1,169 plus VAT on top of general probate fees.
Independent financial advisers (IFAs) usually charge an initial consultation fee, sometimes free, followed by an ongoing percentage of assets managed or a fixed project fee. For complex estates, setup costs can run into the thousands, but the IHT savings often far exceed those fees.
A basic will costs £200 to £500 at a solicitor, or £50 to £300 through a specialist will-writing service. A more complex will incorporating trusts or IHT planning will cost more.
Before paying for IHT planning advice, check that the adviser is regulated by the Financial Conduct Authority (FCA).
Solicitors charge either a flat fee or an hourly rate. Hourly rates in England typically run from £265 to £390 per hour plus VAT. Completing an IHT return for HMRC as part of probate can add £877 to £1,169 plus VAT on top of general probate fees.
Independent financial advisers (IFAs) usually charge an initial consultation fee, sometimes free, followed by an ongoing percentage of assets managed or a fixed project fee. For complex estates, setup costs can run into the thousands, but the IHT savings often far exceed those fees.
A basic will costs £200 to £500 at a solicitor, or £50 to £300 through a specialist will-writing service. A more complex will incorporating trusts or IHT planning will cost more.
Before paying for IHT planning advice, check that the adviser is regulated by the Financial Conduct Authority (FCA).