Clear advice. Local expertise. Thoughtful planning.
Inheritance Tax (IHT) planning does not need to be overwhelming. With the right advice, you can protect your estate, reduce unnecessary tax, and ensure your wishes are carried out with care.
At KEILY. we advise individuals and families across Billericay, Essex and the surrounding areas on inheritance tax planning, wills, trusts, and estate administration — offering clear, practical guidance at every stage.
What Is Inheritance Tax?
Inheritance Tax (IHT) may be payable on your estate when you die. Your Executors are responsible for calculating the tax due, reporting it to HMRC, and ensuring payment is made — usually within six months of death. Late payment can result in interest and penalties.
If you are UK resident and UK domiciled, inheritance tax applies to your worldwide assets. If you are non-UK domiciled, different rules apply and specialist advice should be taken.
Our inheritance tax solicitors work closely with clients in Billericay and across Essex to explain these rules in plain English and help them plan ahead with confidence.
Inheritance Tax Allowances Explained
The Nil Rate Band
Every individual has a tax-free inheritance tax allowance of £325,000. If your estate is valued below this amount, no inheritance tax is payable.
The Residence Nil Rate Band
If you leave your main home to your children or grandchildren, you may benefit from an additional allowance of up to £175,000.
This can increase your total tax-free threshold to £500,000.
- Available where the estate value is £2 million or less
- Reduced by £1 for every £2 above £2 million
- Lost entirely once the estate reaches £2.35 million
We regularly advise homeowners in Billericay, Brentwood, Chelmsford, Basildon and surrounding Essex towns on how to maximise this allowance.
Inheritance Tax Exemptions You Should Know About
Spouse or Civil Partner Exemption
Anything left to a spouse or civil partner is fully exempt from inheritance tax, regardless of value.
Charitable Gifts
Gifts to UK-registered charities are exempt from inheritance tax. Leaving 10% or more of your estate to charity may also reduce the inheritance tax rate on the remaining estate from 40% to 36%.
Business Relief
Business Relief can reduce the inheritance tax payable on qualifying business assets by 50% or 100%.
This may apply to:
- Shares in private companies
- Sole trader or partnership interests
- Business premises, land or machinery
From April 2026, Business Relief will be capped. The first £1 million of qualifying assets will remain exempt, with any excess attracting 50% relief.
We work with business owners across Essex to ensure business assets are structured efficiently and protected for the next generation.
Agricultural Relief
If your estate includes farmland or woodland, Agricultural Relief may significantly reduce or remove inheritance tax on those assets.
Life Insurance and Inheritance Tax Planning
Life insurance policies written in trust are paid directly to beneficiaries and do not form part of your estate. This can provide liquidity to cover inheritance tax without forcing the sale of property or business interests.
Our team regularly reviews existing policies for clients in Billericay and the wider Essex area to ensure they work as intended.
Gifting and Lifetime Planning
Gifting during your lifetime can be an effective way to reduce inheritance tax exposure.
You may be able to make:
- £3,000 annual gifts, with one year’s carry forward
- £250 small gifts to multiple individuals each tax year
- Wedding or civil partnership gifts:
- £5,000 to a child
- £2,500 to a grandchild
- £1,000 to others
- Regular gifts from surplus income, provided they do not affect your standard of living
Gifts made within seven years of death may still be taxable, although taper relief can reduce the amount payable.
How We Help With Inheritance Tax Planning in Essex
Spend With Confidence
Using your assets during your lifetime can improve quality of life while reducing inheritance tax exposure.
Plan and Protect
We advise on wills, trusts, life policies, and wider estate planning to ensure your assets pass smoothly and tax-efficiently.
Financial Collaboration
Where appropriate, we work alongside independent financial advisers to ensure your legal and financial planning align.
Co-Habiting Couples
Inheritance tax exemptions do not apply to co-habiting couples. Marriage or civil partnership can offer significant tax advantages, and we provide clear advice tailored to your circumstances.
Whole of Life Policies
A whole of life policy, written in trust, can provide a guaranteed payout to cover inheritance tax — helping families avoid the forced sale of property or business assets.
Inheritance Tax Planning You Can Trust
Billericay | Essex | Surrounding Areas
Inheritance tax planning is not about avoidance. It is about clarity, preparation, and peace of mind.
At KEILY. we take a thoughtful, straightforward approach — helping clients across Billericay and Essex make informed decisions that reflect their values and protect their families.
Book a Consultation
If you would like advice tailored to your circumstances, we would be delighted to help.