Inheritance tax planning
Keeping more of what you have built in the family, and making it simpler for the people who follow you.
Keeping more of what you have built in the family, and making it simpler for the people who follow you.
From April 2027 most unused pensions count towards your estate. For many families that changes which pot to spend first.
£325,000 each, plus up to £175,000 where a home passes to children, held at those levels until at least April 2031 while values rise.
Your executors, often your children, become responsible for reporting and paying the tax due on your pension.
If your estate including pensions is likely to exceed £325,000 as a single person or £650,000 as a couple. If you own a home you want to keep in the family. If you hold a pension you do not expect to spend in full. If you are a business owner and have not looked at what happens on death.
If everything passes to a surviving spouse or civil partner and the combined estate sits comfortably within the allowances. We will tell you if that is the case.
You tell us your situation, we tell you whether there is anything worth doing. No commitment either way.
Most people have never had their estate valued with pensions included. This is usually where the conversation changes.
Written down with the reasoning, so you can take your time and talk it over with your family. Then we review it each year, because thresholds move and circumstances change.
For many people, spending the pension and preserving other assets is now the better sequence.
Including gifts from surplus income, which is often the most useful exemption and the most under-used.
And being straight with you where they are not.
So there is money to pay the bill without your family selling the house.
Inheritance tax planning is about keeping control of what happens to your money, not just reducing a tax bill. Whatever you want for your family, we can help you work towards it.
Understand what your estate is actually worth, including pensions
See what the bill would be under the rules from April 2027
Decide how much you can afford to give away, and when
Use the exemptions available to you properly
Review your will and your expression of wish
Consider whether a trust genuinely helps in your case
Make sure there is money available to pay the bill
Check your executors could realistically do the job
We publish our fees. Before we provide any advice we will agree the cost of our services with you and enter into a fee agreement. Below is our charging structure for inheritance tax work:
You tell us what you are looking for and we outline how we would work. No advice, no commitment.
Free of charge
A full review of your estate including pensions, with written recommendations and the reasoning set out. This covers the work itself, so it applies once the review is complete whether or not you take the recommendations forward. We confirm this with you in writing before starting.
£3,000 fixed fee
If you decide to go ahead with what we have recommended.
£750
We reassess your plan each year as your circumstances and the rules change.
0.75% of the value of your investments each year
Most of what reduces an inheritance tax bill involves giving up control of money, or giving it away. Gifts generally take seven years to fall fully outside your estate. Trusts carry their own tax treatment and running costs. The Financial Conduct Authority does not regulate tax advice, trusts or will writing.
Bosworth Wealth Management is authorised and regulated by the Financial Conduct Authority. FCA firm reference number 805232.
Our advisers are based in Leicester, Tamworth, Coventry and King’s Lynn, and we work with clients across the UK.
The value of investments can fall as well as rise and you may get back less than you invested. Tax treatment depends on your individual circumstances and may be subject to change in future.
