There are so many ways you can legally reduce your likely Inheritance Tax liability, that Inheritance Tax almost looks like a 'voluntary tax' that you only pay if you want to! 

 

If you do volunteer to pay it (by not taking the right actions) you could find nearly 40% of all your assets end up with HM Customs & Excise instead of those you wish to benefit from them.

 

If you have two or more intended beneficiaries that means HM Customs & Excise get more of your assets than each of those beneficiaries unless you start using some appropriate strategies to reduce the Inheritance Tax. 

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All of the strategies we suggest are perfectly legal and acceptable strategies which use the relevant legislation in the way Parliament intended. 

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It is not usually possible to simply take one action and immediately remove your whole Inheritance Tax liability, so you should consider implementing a number of strategies. 

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When considering any strategies always keep in mind what you are trying to achieve in total, and not just the “Inheritance Tax Reduction” element of your strategy.  Just because a particular strategy reduces Inheritance Tax it does not necessarily mean it is the right thing for you to do.  You should look at it in the round and make sure it is congruent with your overall objectives. 

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Also bear in mind that Inheritance Tax is a complex matter for all but the simplest of estates.  There are often interactions with other tax matters which can lay financial traps for the unwary.  It is therefore very important to take advice from a specialist before attempting to use any of the outlined strategies. 

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Here are 34 strategies that can be used to reduce or eliminate Inheritance Tax. 

 

Click on any of these strategies to find out more about them and how you can use them. 

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