Asset Management

Inheritance Tax can significantly reduce the value of the estate you leave to your family. However, with the right inheritance tax planning advice, you can protect more of your wealth, support your loved ones, and reduce unnecessary tax. Our specialist service helps you achieve this while ensuring you remain fully compliant with HMRC rules and regulations.

What Is Inheritance Tax and Why Planning Matters

Inheritance Tax (IHT) is a tax on the estate, property, money and possessions, of someone who has died. The system offers several important allowances, including the nil-rate band, exemptions for spouses and civil partners, and an additional allowance when a main residence passes to direct descendants. Together, these rules determine whether your estate may face an IHT liability and how much your beneficiaries could receive.

Because allowances have been frozen while property and investment values have risen, more families are finding themselves caught by IHT, sometimes unexpectedly.

Effective planning can:

• Reduce or eliminate an IHT liability
• Provide for your spouse, partner, and children in a structured way
• Help you support causes you care about, such as charities
• Give you confidence that your estate will be passed on as you intend

Our Inheritance Tax Planning Advice Service

We provide a comprehensive, independent IHT planning service that looks at your whole financial position, not just your will or a single investment.

Our advice typically includes:

• We assess your current estate value and project how it may change over time.
• We review your existing wills, pensions and investments to understand how they interact with Inheritance Tax.
• We identify potential IHT liabilities and highlight opportunities to reduce them.
• We coordinate, where appropriate, with your solicitor and accountant to ensure your planning is joined up.
• We design a clear and actionable plan that reflects your needs, priorities and long-term goals.

We explain your options in plain English, so you understand the trade-offs between control, access, and tax efficiency.

Common Strategies We May Consider

Every client is different, but your IHT plan might include a combination of:

Using allowances and exemptions

You can make effective use of annual gifting allowances, small gifts and gifts on special occasions. By using these allowances, you may reduce the value of your taxable estate over time.

Potentially Exempt Transfers (PETs) and lifetime gifting

PETs allow you to make structured gifts that may fall outside your estate if you survive the required period. We help you assess affordability and ensure any gifting strategy supports your long-term financial security.

Trust-based solutions

You can use appropriate trust arrangements, such as discretionary trusts or discounted gift plans, where suitable. These structures help you control how and when beneficiaries receive funds while managing your exposure to IHT.

Pension and investment planning

We review how your pensions and investments are structured, how death benefits are nominated, and how future rule changes may influence your estate. This helps ensure your arrangements remain tax-efficient and aligned with your goals.

Life assurance to cover IHT liabilities

We may also consider life assurance written in trust to help your beneficiaries meet any IHT bill. This approach can prevent the need to sell assets at the wrong time.

Not all strategies will be suitable or necessary in every case. We work with you to find the right balance for your circumstances.

Our IHT Planning Advice Process

Step 1: Initial exploratory meeting

We begin with a no-obligation meeting to understand your goals, family situation and concerns about Inheritance Tax. During this meeting, we explain how we work, outline the likely scope of advice and confirm our fees.

Step 1: Initial exploratory meeting

We begin with a no-obligation meeting to understand your goals, family situation and concerns about Inheritance Tax. During this meeting, we explain how we work, outline the likely scope of advice and confirm our fees.

Step 2: Information gathering and analysis

We then collect details of your assets, liabilities, wills, pensions and investments. Using this information, we estimate your potential IHT liability under different scenarios and highlight any areas that may need further consideration.

Step 3: Planning your strategy

Next, we explore suitable options, explain the benefits and risks, and agree a preferred approach with you. At this stage, we also assess how any gifting or trust planning may affect your long-term financial security.

Step 4: Implementation

If you choose to proceed, we help put the agreed strategy into place. This may involve new investments, trust arrangements, life assurance or adjustments to existing plans. Where necessary, we work with your solicitor and accountant to ensure your planning remains joined up and consistent.

Step 5: Ongoing review

Tax rules and family circumstances change over time. For this reason, we review your IHT strategy regularly to keep it on track and ensure it continues to meet your needs and objectives.

Who Our Inheritance Tax Planning Advice Is For

Our services may be appropriate if:

• The value of your estate means Inheritance Tax could be payable
• You own your home and other assets such as investments, businesses or land
• You want to make gifts to children or grandchildren but are unsure how best to do this
• You are concerned about how future tax changes may affect what your family receives
• You wish to support charities as part of your estate plan

If you’re unsure whether IHT could affect you, we can provide an initial indication based on your current position and objectives.

Why Choose LFP Asset Management for IHT Planning?

• Independent and client-focused – We are not tied to any provider and act solely in your best interests.
• Highly qualified advice – Advice is given by a highly qualified, experienced Chartered Financial Planner with many years’ experience in retirement and estate planning.
• Holistic approach – We consider your wider retirement, investment, and income needs, not just the tax position.
• Clear, transparent fees – Our charging structure is explained in full before any work begins, so you know exactly what to expect.
• Ongoing support – As rules and family circumstances change, we can help you adapt your plan.

Next Steps – Book Your Free Initial Meeting

If you’re concerned about Inheritance Tax or simply want to understand your position, we’d be pleased to help.

Here’s how to get started:

1. Book a free 30-minute initial meeting – Use our enquiry form below or contact us by phone or email.
2. We’ll confirm what information to bring – For example, rough property values, investment and pension statements, and details of any existing wills or gifts.
3. We’ll outline your options and next steps – If further work is appropriate, we’ll explain the scope of advice, timings and fees before you decide whether to proceed.

To arrange your free initial meeting, please complete the enquiry form below and we’ll be in touch.

Important Information

The information on this page is for general guidance only and does not constitute personal advice or a recommendation.

Inheritance Tax rules and tax rates depend on individual circumstances and are subject to change by HM Revenue & Customs and the UK Government.

Estate-planning strategies involving trusts, gifts or life assurance may not be suitable for everyone and can have implications for access to capital and future tax liabilities.

We strongly recommend obtaining personalised financial advice before taking or refraining from any action relating to Inheritance Tax planning.