Who Is the Best Person to Speak to About Inheritance Tax?
A regulated independent financial adviser (IFA) is generally the best starting point for IHT planning in England and Wales. An IFA can assess your full financial picture, identify your IHT exposure, and recommend practical strategies such as gifting, trusts, and life insurance policies written in trust.
Different professionals handle different parts of the process. An IFA is best for holistic IHT strategy, including gifting plans, investments, and life insurance in trust. A solicitor handles wills, trusts, deeds of variation, and legal transfers of property. An accountant takes care of tax return filings, estate valuations, and business property relief calculations.
For most people, IHT planning requires both an IFA and a solicitor working together. Make sure any financial adviser is authorised and regulated by the FCA, because IHT planning advice is a regulated activity in the UK.
If your estate is straightforward, a solicitor who specialises in wills and probate may be sufficient on their own. For complex estates involving businesses, multiple properties, or large investment portfolios, using all three professionals is common.
Different professionals handle different parts of the process. An IFA is best for holistic IHT strategy, including gifting plans, investments, and life insurance in trust. A solicitor handles wills, trusts, deeds of variation, and legal transfers of property. An accountant takes care of tax return filings, estate valuations, and business property relief calculations.
For most people, IHT planning requires both an IFA and a solicitor working together. Make sure any financial adviser is authorised and regulated by the FCA, because IHT planning advice is a regulated activity in the UK.
If your estate is straightforward, a solicitor who specialises in wills and probate may be sufficient on their own. For complex estates involving businesses, multiple properties, or large investment portfolios, using all three professionals is common.