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Inheritance Tax Planning in Plymouth

Protect your legacy and ensure your loved ones are taken care of with CWC Solicitors’ Inheritance Tax Planning services. We understand the complexities of inheritance tax and offer meticulous planning tailored to your family’s needs. Our Solicitors in Plymouth, Tavistock and Devon are dedicated to crafting strategies that minimise your inheritance tax liabilities, making sure that your assets are allocated as per your wishes. Experience the comfort of having a secure plan in place for your estate, with CWC Solicitors by your side.

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What to consider when inheritance tax planning?

Inheritance tax planning takes careful consideration of various factors to optimise the legacy you leave behind. At CWC Solicitors, we guide you through the intricacies of allowances, reliefs, and potential exemptions applicable to your estate. We’ll help you understand the impact of lifetime gifts, trusts, and charitable gifts, and how they affect your overall tax planning. Together, we can explore options like business property relief, agricultural property relief or the use of Potentially Exempt Transfers, ensuring that your plan aligns with your intentions and current tax legislation.

Helping you plan for the future

CWC Solicitors take pride in offering a compassionate and personalised approach to planning your family’s financial future. Our skilled family law solicitors combine experience with local knowledge, making sure that your Inheritance Tax Planning aligns with the unique dynamics of Plymouth, Tavistock, and the Devon community. We’ll walk you through every step, ensuring you have a full understanding of the process and the peace of mind that your family will be supported when it matters most.


What is Inheritance Tax and how does it affect me?

Inheritance Tax (IHT) is a tax on the estate of someone who has passed away, including all property, possessions, and money, after applying any relevant allowances. The standard IHT rate is 40% above the threshold, which can significantly impact the amount your beneficiaries receive. Planning ahead with CWC Solicitors can help mitigate the impact.

How can CWC Solicitors help with Inheritance Tax Planning?

Our Inheritance Tax Planning services include reviewing your estate, advising on potential tax reliefs and exemptions, and implementing strategies to reduce your tax liability. We offer bespoke solutions for Plymouth, Tavistock and Devon residents, ensuring your plan reflects your unique family situation and wishes.

Can I reduce the amount of Inheritance Tax my family has to pay?

Absolutely. There are a number of legitimate ways to reduce Inheritance Tax liability, such as gifting assets during your lifetime, setting up trusts, charitable donations, and taking advantage of tax-free allowances. CWC Solicitors can advise on the most effective measures for your circumstances.

What should I expect during the Inheritance Tax Planning process with CWC Solicitors?

Expect a welcoming, approachable service where your needs are put first. We will discuss your objectives, analyse your financial situation, and develop a tailored plan. Throughout the process, our Family Law Solicitors in Devon will ensure clear communication and expert guidance.

Are there any Inheritance Tax exemptions or reliefs specific to the Plymouth region?

While Inheritance Tax laws do not vary by region, our expertise in local demographics and economic trends enables us to provide informed advice to Plymouth residents. This includes understanding property values and local businesses which can influence the effectiveness of available reliefs and exemptions.

How often should I review my Inheritance Tax Planning?

You should review your strategy at regular intervals, especially if there’s a change in your personal circumstances, such as marriage, divorce, having children, or if there are changes to tax laws. We recommend at least every five years or in response to significant life events.

What estate planning documents are necessary for Inheritance Tax Planning?

Key documents often include your will, trusts, deeds of gift, and any documents relating to business or property ownership. Our Solicitors in Plymouth will guide you through the necessary documentation.

Can business properties affect my Inheritance Tax Planning?

Business properties may qualify for reliefs such as Business Property Relief (BPR), potentially reducing the taxable value of your business. CWC Solicitors can advise on how BPR and other reliefs apply to your estate.

How do trusts work in Inheritance Tax Planning?

Trusts can be used to manage how your assets are distributed and can often offer tax benefits. They can be complex, which is why CWC Solicitors’ expertise is vital to establish the right trust structure suited to your needs.

How can I get started with Inheritance Tax Planning with CWC Solicitors?

You can begin by contacting us to schedule an appointment. Our friendly team in Devon will be glad to provide you with the initial guidance and outline how we can assist you in creating a robust Inheritance Tax Planning strategy.

Why choose CWC Solicitors?

Choosing CWC Solicitors means selecting a partner who values your family just as much as you do. Our team in Devon is not only equipped with the expertise in family law but also carry a genuine passion to deliver a service with empathy and understanding. We are committed to clear communication, providing straightforward advice without legal jargon. CWC Solicitors combines a local, community-centric focus with a wealth of experience to bring you service that truly makes a difference.

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