Inheritance tax (IHT) is payable on estates worth more than £325,000; anything below this is known as the nil-rate band and is not subject to tax. Inheritance tax is currently charged at 40% of the value of your estate which exceeds the nil-rate band.
As of April 2017 an additional £100,000 nil-rate band was introduced, which will increase each year until 2020/2021 to reach £175,000 to give a combined nil-rate band of £500,000 for individuals and a combined £1 million for married couples and civil partners. This extra nil-rate band only applies if you pass your property to direct lineal descendants.
At Rotheras we understand that when you have worked hard to build up your estate and assets you want to hold on to this wealth to pass on to future generations. Our private client team will work closely with you to provide tailored solutions to minimise the amount of inheritance tax you have to pay.
The rules surrounding inheritance tax relief and exemptions are not easy to navigate but we can advise you on the best strategies for making the most of your wealth.
Why use Rotheras for minimising the amount of Inheritance Tax?
We get to know you and your individual circumstances so we can provide you with the best options for minimising IHT based on your wealth, assets, who will benefit from your estate and what finances you require.
We can draw on the experience of our Wills, Probate, Property and Family Law teams where necessary.
We have a network of independent financial advisors we work closely with who we can refer you to for financial advice.
We can advise you on drafting or updating wills or trusts to take advantage of IHT relief.
We can advise you on lifetime gifting to minimise the size of your estate and the amount of IHT liable.
We can advise you on IHT relief where you have a trading business or agricultural business or property.
We can advise you on making gifts to charity or leaving a percentage of your estate to charity to reduce the IHT rate.
We can advise you on transferring money between spouses or civil partners, which are exempt from IHT.
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Head of Wills and Probate
"Impressive group with expertise in both matrimonial finance cases and children matters. A strong childcare team handles cases involving physical and emotional abuse, as well as fatalities. Well versed in matters with international aspects, Hague Convention cases, as well as adoption and guardianship issues.
Chambers UK, 2018
Anton Balkitis frequently represents the operators of both goods and passenger vehicles in court proceedings. Clients remark: "He has a commercial understanding of real-life issues and will always provide a balanced view
Chambers UK, 2019
Impressive group with expertise in both matrimonial finance cases and children matters. A strong childcare team handles cases involving physical and emotional abuse, as well as fatalities. Well versed in matters with international aspects, Hague Convention cases, as well as adoption and guardianship issues.
Chambers UK, 2018
Chris Powell at Rotheras was recommended to us by a trusted associate within the Transport Industry; without doubt we wouldn’t have had the excellent outcome we did without his and his team’s involvement. The level of professionalism, expert advice and assistance was faultless; we felt reassured and well informed throughout the whole process. It was a pleasure to do business with him and would highly recommend his services!
Julian Brindley - John Brindley Ltd
The team at Rotheras, and Mr Powell in particular, have provided us with an outstanding service. We are extremely grateful for the help and support they gave us in dealing with issues relating to our transport operations and our goods vehicle operators licence. Mr Powell was professional, knowledgable, efficient and effective. He quickly understood our business and the problem we had. He responded with sensible advice and acted quickly on our behalf to resolve the matter. I cannot thank him enough for his help and I would recommend Mr Powell, and the Rotheras team, without hesitation. I am extremely grateful for the help they gave us.
Richard Hitchcock - Hitchcock & King
I would highly recommend James Briggs, solicitor at Rotheras. He has been extremely helpful, patient and thorough whilst helping me with affairs following the death of my husband. Even during lockdown (covid) he maintained communication and kept me informed of what was happening. He successfully achieved the outcome I needed and I would not hesitate to recommend him.
We are in the middle of launching our own packaging agency and contacted Rotheras for some professional legal advice with regards to contracts. After an initial call with Billy, he made it clear what we needed and asked plenty of questions to understand what it was we needed. He was very responsive to our questions, whether it be over the phone or via emails and made the process really simple. We had little experience in this area so it was fantastic to work with Billy, who explained everything concisely. We were also really pleased with the quick turnaround and great value offered. Would thoroughly recommend working with Rotheras.
Tom Burden, Director of Rightbox Ltd
Billy understood our requirement from the get go and really nailed down on what we needed in our commercial agency agreement. Billy kept us informed every step of the way and showed great professionalism. We would recommend his services to any start-up business who is in need of legal advice and guidance with commercial contracts.
Axl Barber, Sales Director of Rightbox Ltd
I was extremely pleased with the service that Kerry provided in order to sell my mothers house. Good, prompt communication and all questions dealt with or answered as requested. Consequently I would recommend yours services to others.
Anton has substantial experience acting for commercial goods hauliers and other transport operators. He advises on a range of contentious issues including operator licence, maintenance and tachograph matters, with a wealth of experience acting in public inquiries before Traffic Commissioners."Anton is a highly informed and personable lawyer.
Chambers UK, 2020
Chris Powell focuses his practice on road transport issues, regularly representing haulage, transport and logistics companies. He has considerable experience in regulatory matters involving operator licences and compliance failings, as well as more serious criminal investigations relating to fraud.
Chambers UK, 2020
Christina‘s expertise covers a full range of private client services including Wills, Probate, Trusts, Care Fees Planning, Power of Attorney, Court of Protection, Tax Planning and Conveyancing.
Jeremy Allen is a Wills, Probate and Trusts specialist at Nottingham based law firm Rotheras Solicitors and is based at our Lace Market offices in the heart of Nottingham City Centre.
Karen Hayward is a partner and Chartered Legal Executive at Nottingham-based law firm Rotheras Solicitors, with over 20 years’ experience in Wills, Probate, Lasting Powers of Attorney and Court of Protection applications. Karen is based at our Beeston office.
Jayne Smith leads the Wills and Probate department at Nottingham based Rotheras Solicitors and is currently based in our Wollaton office.
Nelissa has over 17 years’ experience as a Wills, Probate, Tax and Trusts solicitor and is based at our Mapperley office. An experienced Senior Associate with a demonstrated history of working in the legal services industry. Skilled in Inheritance Tax Planning and the Administration of Trusts and Estates.
Melissa Merry is a Consultant in our Wills and Probate department, with over 30 years of exeperience in private client work. Melissa is based at our Nottingham City Centre offices.
Eleanor Robinson is a Wills, Probate and Trusts specialist at Nottingham-based law firm Rotheras Solicitors and is based at our West Bridgford office.
Sarah Soo is a Wills and Probate specialist at Nottingham-based law firm Rotheras Solicitors and has specialised in private client work since she began her career. Sarah is currently based in our Wollaton office
James Briggs is an associate and private client solicitor at Nottingham-based law firm Rotheras Solicitors.
Adam’s expertise covers a wide range of services including drafting Wills, preparing Power of Attorney documents, Probate and Court of Protections applications.
Sarah Singh is a trainee solicitor within Rotheras Wills, Probate & Trusts department and is based at the firm’s Mapperley office.
Alison Richardson is a member of the wills, trust & probate team based at our Mapperley office.
Kirsten Wood is a Senior Associate with over 18 years’ experience based in Rotheras’ Wills and Probate department and specialises in will drafting, tax, trusts, estate administration and lasting powers of attorney.
Sharon Fleckney is a Paralegal in Rotheras Wills and Probate department and is based at the firm’s Lace Market Office.
Anna Guy has over 10 years’ experience of working in law firms, and 7 years’ experience of dealing with Wills and Probate matters.
Brett James is a Conveyancing and Wills and Probate Paralegal at Rotheras Solicitors and is based at our Lace Market office.
Michelle Kingston is a Paralegal in Rotheras Wills and Probate department and is based at our Long Eaton office
Sue Radford is a Paralegal in Rotheras Wills and Probate department and is based at the firm’s Beeston Office.
Laura has over 16 years’ experience as a Wills, Probate, Tax and Trusts solicitor and is based at our Lace Market office. An experienced Associate with a friendly, hands-on approach to clients.
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