Inheritance tax and estate planning

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Inheritance tax and estate planning helps you pass on your assets to your family, or other beneficiaries, in a tax-efficient manner.

Through our partnership with Schroders Personal Wealth, you can access personalised  recommendations on creating a tax-efficient will and receive help with inheritance tax planning.

Tax can be a complex topic, and it’s reassuring to know that there are a range of different experts at Schroders Personal Wealth that can help with your individual circumstances.

Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.

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Through our partnership with Schroders Personal Wealth, we want to give more of our customers access to financial and investment expertise, to help give you the chance to choose what your financial future looks like.

If you have at least £100,000 in sole annual income, or £100,000 spread across sole or joint savings, investments and personal pensions, they could help you.

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Inheritance tax

What is inheritance tax?

Inheritance tax is the levy charged on any part of your estate that exceeds your personal allowance (also known as the nil-rate band).

Currently, the personal allowance limit is fixed at £325,000 until April 2021. Anything above this amount is taxed at 40%. 

Typically, inheritance tax should be paid when an estate is passed on after death.

Find more information about inheritance tax

What is inheritance tax planning?

Inheritance tax planning is a service that enables you to preserve and protect the assets you have worked hard to build up. This means reviewing the best way to pass on your assets or distribute your wealth in a tax-efficient manner while you’re alive.

Schroders Personal Wealth advisers can share a variety of possible solutions with you – ranging from the best way to pass on your assets, to how you can distribute your wealth in a tax-efficient way.

How does inheritance tax planning work?

You’ll work closely with an adviser from Schroders Personal Wealth, who can also introduce specialists to help with will writing and trust creation.

By developing an in-depth understanding of your personal circumstances and conducting expert analysis, advisers from Schroders Personal Wealth can create a financial plan for passing on your wealth in a tax-efficient way.

The Financial Conduct Authority (FCA) do not regulate will writing, tax planning and trusts.

Why plan for inheritance tax?

Using our inheritance tax planning service, you can:

  • Try to ensure your beneficiaries receive the highest benefit from your estate and wealth.
  • Potentially reduce the tax bill your beneficiaries will pay on the wealth they inherit from you.

Careful planning goes a long way in helping you manage your inheritance tax position, so you can potentially increase the amount your beneficiaries will receive. 

Book an appointment

Book a free, 15-minute appointment to find out if wealth management advice is what you’re looking for. There’s no obligation to take things further.

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Or call us to book your appointment on 0808 167 4243.

Lines are open Monday to Friday, 9am–6pm and Saturday 9am – 1pm, excluding bank holidays.  

Calls may be monitored and/or recorded. Call costs may vary depending on your service provider.

Lee Westcott
Lee Westcott, Wealth Adviser at Schroders Personal Wealth

“Tell us your aspirations for how you’d like to pass on your wealth – we can help create a plan and introduce you to products and specialists who may be able to help..”

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Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Schroders Personal Wealth is a trading name of Scottish Widows Schroder Personal Wealth Limited.