Wrigleys' trusted team of inheritance tax advisers
Landed estates, farming & business assets
Many of our clients have landed, farming or business assets (or a combination of all three), and we advise in depth on maximising the availability of inheritance tax(IHT) reliefs such as agricultural property relief and business property relief where possible.
Reducing estates for IHT
Many clients will wish to reduce the size of their estates for inheritance tax purposes through lifetime gifts. We can advise on straightforward situations where simply living for seven years without reserving a benefit will be effective. However, we can also advise on more complex cases, for instance, where a client wishes to give away their house but continue to live there, or wishes to give away an item of value and retain it in their property.
We are also able to advise on the implications of owning or handing on property or objects with substantial heritage value, and making use of conditional exemption from inheritance tax where it is available. Further details can be found on our heritage property and works of art webpage.
An important part of inheritance tax planning is the use of trusts, and we can advise on the inheritance tax-efficient use of existing trusts, as well as the creation of new ones, as a means of preserving family wealth.
The interplay between inheritance tax and other taxes is frequently an important consideration, and we always consider this, and any non-tax considerations that are relevant, when advising our clients.
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Chambers and Partners HNW Guide (2023)