Inheritance Tax, Trusts and
Estate Planning

Long-term planning for the orderly transfer of wealth across generations

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Inheritance Tax is charged at 40 per cent on the value of the estate above the available nil-rate band.

For families with property, businesses, pensions and investments, the potential charge can be very substantial – and the complexity of the planning required to address it has increased considerably in recent years as the rules around Business Property Relief, pension assets and the wider estate have all shifted.

Our team works with individuals, families and trustees on long-term Inheritance Tax and succession planning.

We look at the whole picture, work alongside your other advisers and structure the planning in a way that fits the family rather than imposing a generic template.

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Related services

How we deliver IHT and estate planning

Every engagement begins with mapping the position. The assets, their values, the available reliefs, the wills and trusts in place and the family circumstances all need to be set out before any planning recommendation is made.

From there, we work through the options. Lifetime gifts, the use of trusts, the structuring of business interests, the position of pensions and the way the estate is set up to pass to the next generation are all addressed together.

The planning is documented and reviewed periodically so it stays current as legislation and circumstances change.

Our expertise

  • Inheritance Tax planning and lifetime gifting strategies
  • Business Property Relief and Agricultural Property Relief
  • Use of trusts in succession planning
  • Family investment companies
  • Trust creation, administration and trust tax returns
  • Will drafting in conjunction with solicitors
  • Lasting Powers of Attorney co-ordination
  • Estate administration and probate support
  • Cross-border estate planning and the residence-based regime
  • Deeds of variation

Trustees of existing family trusts often come to us where the position needs review.

Periodic charges, exit charges, trustee discretion, distributions and the underlying tax compliance all need to be handled properly.

We work with families and trustees on an ongoing basis and on specific reviews where the position calls for it.

What you can expect from our Inheritance
Tax and estate planning team

Here is what defines how we approach the work:

Long-term view

Estate planning works over decades. We design the structure to last, with periodic review built in so it stays current as the family, the assets and the legislation change.

Joined up with the wider position

Tax, investment, business interests, pensions and family governance all need to be considered together. We co-ordinate with solicitors, investment managers and the wider professional team so the planning is coherent across all of them.

Families come to us on Inheritance Tax and succession planning because they want a trusted guide who holds the whole picture across the long term – someone who understands the family, the assets and the wider professional team and who is present, not just available, when the next conversation is needed

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I’ve been with MaCalvins since 2013, they are managing my company business accounts and my personal tax returns in a… Read More

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Thank you Macalvins for excellent service over the years

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Why choose Macalvins?

Macalvins is a Top 100 UK accountancy firm, with years of experience supporting families and trusts to plan out their Inheritance Tax position.

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Frequently Asked Questions faq

How are the changes to Business Property Relief affecting our planning?

Announced changes restrict the unlimited 100 per cent rate of Business Property Relief and Agricultural Property Relief from April 2026, with a £1 million combined allowance per person at the full rate and a 50 per cent rate above that. The detail is still being finalised. Where your planning relied on full BPR being available, the structure may need to be reviewed. We are working through this with affected clients.

Should we use a trust?

Trusts can be useful in succession planning, particularly where control over the timing or distribution of wealth is important. They are not the right answer in every situation. Setting up a trust has tax and administrative consequences that need to be weighed against the benefits. We work through whether a trust fits your specific situation rather than recommending one as a default.

How does the pension change in April 2027 affect us?

From April 2027, most unused pension funds and death benefits will be brought into the scope of Inheritance Tax. Pensions have been a useful estate planning vehicle in part because of their IHT-free status. That position is changing and the implications need to be considered in the round, including the income tax position on death benefits and the interaction with the rest of the estate. We are addressing this with clients in current planning conversations.

Mr. Jackson
@mrjackson
Mr. Jackson
@mrjackson