How to reduce your Inheritance Tax bill
You can legally reduce your Inheritance Tax bill through gifting, using trusts, and understanding your tax-free allowances.
Posts by Steve Gauke
A complete guide to Inheritance Advances
Inheritance Advances exist to help beneficiaries access a portion of their inheritance early, often months before probate is complete.
Is a Probate Loan secured against my home?
No, Probate Loans are not secured against your home. Instead, they are secured against either the estate, or your portion of the inheritance, depending on what you use it for.
What happens with inheritance when there are debts outstanding?
When someone passes away, their debts become part of their estate and need to be paid off before beneficiaries can receive their inheritance.
Do you pay UK Inheritance Tax on assets abroad?
From 6 April 2025, the UK’s approach to Inheritance Tax (IHT) on assets abroad has shifted from being domicile-based to residence-based.
Can you get a loan against your inheritance?
Yes, you can get a loan against your inheritance. This is called an Inheritance Advance and allows you to access the money before probate.
What is estate planning?
Estate planning is the process of deciding how your assets, like property, money and investments, will be distributed after you pass away.
What happens with life insurance and inheritance?
If your life insurance is in a trust, then it is not liable for Inheritance tax. If it is not, then it is liable for taxes.
Do beneficiaries pay Inheritance Tax in the UK?
No, beneficiaries don’t pay Inheritance Tax in the UK. Inheritance Tax is paid by the executor of the estate of the person who has passed away.
How much can I borrow from my future inheritance?
If you’re going to receive an inheritance, you can usually borrow up to 50% of your share early with an Inheritance Advance.
