Published: 28/07/2025 By Hannah Duncan
Last week, our accounts clients were invited to a highly insightful seminar titled “The Inheritance Tax Puzzle”, hosted by Martin Card and Oliver O’Brien from our Wealth team. The session focused on one of the most pressing financial issues affecting families today: Inheritance Tax (IHT).With property values on the rise and thresholds remaining relatively unchanged, more families are finding themselves unexpectedly caught in the IHT net. This seminar explored the complexities of what constitutes an estate, why IHT is becoming a growing concern, and what steps can be taken to manage it. One particularly important point raised was the challenge facing personal representatives, who are often required to settle the inheritance tax bill before they gain control of the estate’s assets. This can place significant pressure on families at an already difficult time, underscoring the importance of advance planning to ensure liquidity and avoid unnecessary delays or stress.
What makes up an Estate?
Oliver opened by breaking down what is typically included in an estate for IHT purposes everything from property and investments to personal belongings and certain life insurance policies. Many attendees were surprised to learn how quickly the value of an estate can exceed the standard nil-rate band.
Why it’s time to take IHT seriously
Using real-life case studies, our presenters illustrated how IHT can significantly reduce the amount passed on to the next generation. For many families, the tax burden could be hundreds of thousands of pounds making early planning essential.
The session highlighted the importance of understanding not just the value of your estate today, but how it may grow over time and what that means for your loved ones.
Strategies for mitigating IHT
The seminar offered practical solutions, from making lifetime gifts and using allowances efficiently, to more complex options such as trusts and life insurance written in trust. Effective estate planning was shown to be a powerful tool in preserving family wealth.
Key takeaways included:
• The importance of having an up-to-date will
• Making full use of available exemptions and reliefs
• How trusts can provide control while reducing IHT exposure
• The role of financial planning in offsetting future liabilities
Planning for peace of mind
Whether your goal is to protect your assets, support your children or grandchildren, or simply gain peace of mind, early and informed estate planning can make a significant difference.
Martin and Oliver concluded the session by encouraging all attendees to review their current position and consider a professional IHT assessment, something our Wealth team is happy to assist with.
If you weren’t able to attend the seminar and would like to learn more, please don’t hesitate to contact us. We’re here to help you and your family make sense of the inheritance tax puzzle and plan with confidence. Email the team at advice@turpinba.co.uk or call 020 8661 7878.