Who Is the Best Person to Speak to About Inheritance Tax?
Start with a regulated independent financial adviser (IFA) for overall IHT strategy. Add a solicitor for legal documents like wills and trusts. Use an accountant for tax returns, valuations, and business property relief claims. Most estates above £500,000 need at least two of these professionals working together.
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.
How to Check Whether Your Adviser Is Properly Qualified
The FCA Financial Services Register is the definitive check for any financial adviser. Search by name or firm and confirm they are authorised for “advising on investments,” which covers IHT planning involving financial products. An adviser without this specific permission cannot legally recommend life insurance in trust, investment bonds, or pension strategies for IHT purposes.
Beyond FCA authorisation, look for additional qualifications that signal genuine estate planning expertise. STEP membership (Society of Trust and Estate Practitioners) indicates specialist training in trusts, wills, and tax planning. Chartered Financial Planner status (awarded by the Chartered Insurance Institute) requires exams above the FCA minimum Level 4 diploma. The combination of FCA authorisation plus STEP membership is the strongest credential for IHT-specific advice.
For solicitors, check the Law Society’s Find a Solicitor tool and look for accreditation in Wills and Inheritance Quality Scheme (WIQS). A solicitor with WIQS accreditation has demonstrated competence in will-drafting and estate administration to an audited standard.
Beyond FCA authorisation, look for additional qualifications that signal genuine estate planning expertise. STEP membership (Society of Trust and Estate Practitioners) indicates specialist training in trusts, wills, and tax planning. Chartered Financial Planner status (awarded by the Chartered Insurance Institute) requires exams above the FCA minimum Level 4 diploma. The combination of FCA authorisation plus STEP membership is the strongest credential for IHT-specific advice.
For solicitors, check the Law Society’s Find a Solicitor tool and look for accreditation in Wills and Inheritance Quality Scheme (WIQS). A solicitor with WIQS accreditation has demonstrated competence in will-drafting and estate administration to an audited standard.
What Each Professional Actually Does (and Where They Overlap)
An IFA handles the financial strategy: calculating your IHT exposure, recommending gifting plans, structuring life insurance policies written in trust, advising on pension death benefit nominations, and managing investments tax-efficiently. Their value sits in seeing the full picture across all your assets and recommending how to restructure.
On the legal side, your solicitor drafts wills with IHT-efficient provisions, sets up trust deeds, executes property transfers, prepares lasting powers of attorney, and (after death) applies for probate and submits IHT returns to HMRC. Solicitor fees for IHT work vary from £500 for a basic will to £5,000+ for complex trust arrangements.
If you own a business or have complex investment structures, an accountant’s input becomes important: business property relief calculations, share valuations for IHT purposes, annual trust tax returns (form SA900), and post-death estate accounts. Their job is making sure the numbers reported to HMRC are defensible.
On the legal side, your solicitor drafts wills with IHT-efficient provisions, sets up trust deeds, executes property transfers, prepares lasting powers of attorney, and (after death) applies for probate and submits IHT returns to HMRC. Solicitor fees for IHT work vary from £500 for a basic will to £5,000+ for complex trust arrangements.
If you own a business or have complex investment structures, an accountant’s input becomes important: business property relief calculations, share valuations for IHT purposes, annual trust tax returns (form SA900), and post-death estate accounts. Their job is making sure the numbers reported to HMRC are defensible.
Red Flags: When to Walk Away From an Adviser
Be cautious of any adviser who guarantees IHT savings before reviewing your full financial position. Legitimate planning requires sight of property values, pension details, investment holdings, existing gifts, and family circumstances before any recommendation is appropriate.
Avoid advisers who push a single product (typically offshore bonds or trust-based insurance schemes) as a universal solution. IHT planning is bespoke. An adviser recommending the same structure to every client is selling a product, not providing advice.
Any adviser charging upfront fees before providing a written suitability report is operating outside FCA conduct rules. You should receive a clear explanation of the recommended strategy, its costs, and its risks before paying for implementation.
For a starting point, our inheritance tax planning service can assess your estate and connect you with the right combination of professionals for your situation.
Avoid advisers who push a single product (typically offshore bonds or trust-based insurance schemes) as a universal solution. IHT planning is bespoke. An adviser recommending the same structure to every client is selling a product, not providing advice.
Any adviser charging upfront fees before providing a written suitability report is operating outside FCA conduct rules. You should receive a clear explanation of the recommended strategy, its costs, and its risks before paying for implementation.
For a starting point, our inheritance tax planning service can assess your estate and connect you with the right combination of professionals for your situation.