Inheritance Tax Advice from Specialist Accountants
Inheritance tax advice so you minimise your liability to HMRC and family retain as much of your estate as possible.
Inheritance Tax Advice
At DS Burge & Co, our team of accountants can help provide you with inheritance tax advice, to help reduce your inheritance tax liability.
Inheritance tax (IHT) is a tax that people have to pay when they inherit an asset from a deceased person. It is also called estate or death duty. IHT tax rate depends on the value of the inheritance, the beneficiary's relationship with the deceased, and the state of residence.
Before paying the IHT, you must get an IHT reference number three weeks before making a payment and must be paid by the end of the sixth month after the demise. Failure to honour this attracts interest charged on the outstanding amount.
Inheritance tax can be a huge burden to many people if they lack the know-how on how it's calculated. In addition, lack of proper planning affects the percentage of assets you can transfer to your loved one. They might even be forced to sell the assets to pay the IHT. Imagine how stressful that can be, especially if the asset is the family business.
Engaging specialist accountants like DS Burge & Co will help you reduce your inheritance tax liability. We provide personalised advice and solutions to our clients about inheritance tax.

How DS Burge & Co can help reduce your inheritance tax liability
- We can assist with valuing your assets and review your portfolio so you can understand your IHT liability.
- We’ll review allowances and exemptions that you can take advantage of to minimise your liability to HMRC so your family retain as much of your estate as possible.
- Explain the important considerations that you need to consider in how you structure your company. This is a key element of ensuring you qualify for business property relief.
Let us take the stress out of Inheritance Tax
If you'd like to find out more about our inheritance tax advice or need help understanding the allowances and exemptions you qualify for, please don't hesitate to get in touch

Inheritance tax allowances and exceptions
Taxes are an inescapable part of life that we must all deal with. However, with IHT, there are some allowances and exceptions that will have the tax lifted exempted.
Allowances
When a person dies, their estate’s value over the nil rate band is liable to IHT at 40 % unless passed directly to a spouse or registered civil partner. This means that the first £325,000 of your estate will not be taxed.
As a couple, you can share your thresholds by transferring the unused element of their IHT-free allowance to their living spouse when they die. Doubling up the allowance enables a couple to pass on £650,000 tax-free before 40% IHT becomes due.
Exceptions
The following are some IHT exceptions that help you reduce the amount of tax.
To reduce the amount of IHT charged on your assets, you can make inheritance tax-free gifts of up to £250 to as many people as you want. Under the annual exemption, you can give away up to £3,000 every year either as a single gift or several gifts.
If you are in a civil relationship or married to a UK spouse, you can leave your assets directly to them to avoid taxation. However there are different rules for individuals who are domiciled outside the UK and who have a UK-domiciled spouse or civil partner and UK-domiciled individuals who have a non-UK domiciled spouse or civil partner.
Gifting your assets to family or friends, with the intention of not benefiting from it anymore, makes the value of the gift included in the IHT, but for seven years only.
Let’s put it into context. For instance, if you gift your friend some amount of money and live for seven more years, the money won’t be included when calculating the IHT when you pass away.
Leaving your assets to charity exempts them from IHT as it benefits a good cause. For example, if you leave at least 10% of your assets to charity, it reduces the tax rate from 36% to 40%. The percentage might not be a lot, but it increases the amount your family and charitable organisations receive.
Buying a life insurance policy will not reduce the IHT directly, but the payout will make it easier for your family members to settle the hospital bills. This will prevent any intent of selling your assets. However, ensure that the life insurance policy goes into a trust to avoid more tax payments.
Testimonials

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Very professional and responsive service. Always there to answer any questions I had in an understandable fashion. Highly recommend.
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Dealing with Kieran is always a pleasure, prompt, efficient and extremely professional. We would highly recommend.
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I have been using DS Burge & Co to do my company and personal accounts for the last few years, and have always found them to be very thorough and professional. Additionally they are always on hand to provide me with advice whenever i need it, in a friendly and personal way.
Andy S. -
I've been with DS Burge & Co for a couple of years now and have always been massively impressed by how friendly, professional and efficient they are. I'm a freelancer with zero financial knowledge and Kieran has really helped me navigate what can sometimes be a complicated landscape. I know I can ask for help with anything and have complete trust. Would 100% recommend!
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DS Burge & Co have always gone above and beyond in providing accountancy services to our company. They are professional, accommodating and we wouldn't think to look anywhere else.
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Very efficient and easily accessible. Responds quickly to communication. I would recommend to others.
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I always feel I am being given a personal service with Darius. He responds to any queries immediately and I trust his advice implicitly. Also he is a very nice man and his fees seem to me to be reasonable. A very professional service that I highly recommend.
Sara H. -
Kieran and his team are excellent. Very responsive and very up to date on the latest accountancy rules and how to be most efficient with your affairs. I would highly recommend DS Burge. I have recommended them many times to my close friends.
Dr M. -
Kieran and Yuko have been my accountants for the last 3 years and are always super timely, helpful, and take the stress out of filing. Highly recommend!
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Very fast and friendly service.
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Very pleased with the service they have provided over the years. They have responded clearly and quickly to any issues we have had. They are good value for money. They are a professional service and we have had no problems with the Inland Revenue
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Extremely competent accountants with a great customer attention. Simply, the best accountants I've ever used. Totally recommended.
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Everybody at DS Burge has been super helpful in the past. Any questions I have with regards to my accounts are answered and dealt with quickly and efficiently. The personalised service is very appreciated. I can highly recommend this company.
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DS Burge & Co Accountants have been our accountant for more than 3 years, and we couldn't be more satisfied with their services and expertise.
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I am happy with the service I receive for both my companies, Kieran and his team are very professional and great value for money. Happy that I changed!!
Agnes T.
Business property relief
As a business owner in the UK, you can consider Business Property Relief (BPR) as a means of reducing your IHT liability. With the help of a specialist accountant, you can transfer your business assets to your children without IHT charges as a business owner. To receive BPR, you are required to have owned the assets or the business for at least two years before your demise.
This means that if you pass away shortly after starting your business, your assets won’t be exempted from IHT. However, if you inherit your spouse’s business, who passed on before two years were over, your period of ownership is added to your spouse’s period of ownership. If the period exceeds two years when combined, you qualify for BPR relief.


What is a trust, and how does it affect inheritance tax?
Putting some of your money or assets into a trust you, your children, or spouse can benefit from; they are never included in IHT calculation. You can set up a trust immediately or establish one in your will.
If you transfer certain assets into a trust in your lifetime, there might be a Capital Gains Tax (CGT) as a consequence. However, if you establish a trust in your will, there will be no liability to GCT. Note, some trust types are subject to their tax regimes, and the trust might have to pay IHT themselves. For example, trustees are likely to be liable for Income Tax at 45% and capital gains tax at 28%.
Please don’t hesitate to contact us to help you stay clear of the potential pitfalls with inheritance tax and maximise your allowance.
At DS Burge & Co, we offer a wide range of personal tax services, from capital gains guidance to self-assessment tax returns, so we’re expertly placed to provide you with comprehensive tax advice based on your circumstances. In addition, our inheritance tax specialist accountants will ensure you retain the benefits of your labour, and HMRC does not suck it up.
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