Wealth, Tax & Inheritance

Our Private Client Solicitors are experts in advising on wealth, tax & inheritance issues, having helped many clients make use of the various reliefs and a raft of tried and tested methods to save money. 

At Herrington Carmichael we receive many questions relating to the legal process on Equity Release or tax and inheritance – after years of property market growth, we are seeing more cases of clients who have decided one way or another that they would like to release some equity from their property or gain an understanding of the Inheritance Tax Reliefs and Exemptions with a little advice on income and capital gains tax.

> UK Care Guides Equity Release Calculator (external website)

Inheritance Tax Planning
Inheritance Tax has not gone away. It may be less of a problem for many families than it was a few years ago but for any single person with an estate in excess of £325,000 or a couple with more than £650,000, the tax remains an issue. Despite the falling property prices of the last few years many of our clients do exceed these levels. Tax can often be a daunting subject.

Income and Capital Gains Tax (CGT)
Whilst we do not claim to be experts in every type of tax,  we are recognised specialists in inheritance tax in the UK. In addition, we do have considerable knowledge of income and capital gains tax and often advise on these.

Making a Will
We are able to advise on tax planning matters as part of our Will drafting service, at other times we will give separate advice.

Inheritance tax reliefs and exemptions
Take a look at our list of Inheritance Tax Reliefs and Exemptions and brief description of the principal reliefs and exemptions from Inheritance Tax. It is not an exhaustive list and should not be relied upon without first obtaining professional advice.

Contact us

    Inheritance Tax Planning

    Inheritance Tax Planning: Top 10 Tips

    From life policies, to trusts, wills, excess income and more. Here’s a quick 10 tips to Inheritance tax planning.

    Read more >

    Inheritance Tax Planning: should we be planning now?

    There seems little doubt that the government is going to have to find ways to collect more tax in years to come. IHT could well be a target going forward.

    Read more >

    Inheritance Tax Planning: Residence Nil Rate Band

    The ‘new’ inheritance relief, known as the “residence nil rate band,” was first introduced by the Conservative Government back in 2015. 

    Read more >

    Are you going to pay for Coronavirus (and Brexit)?

    ​Almost all of us are conscious of the fact that Coronavirus is costing the government eye watering amounts of money and with expectations that the virus could lead to a recession it seems likely that it will continue to cost money for some time. Add to that the fact...

    Government Fundraising using Capital Gains Tax and Inheritance Tax

    Rishi Sunak has called for the Office of Tax Simplification to have a look at Capital Gains Tax with a view to a report being presented later this year. This has sparked rumours in many circles that the Chancellor is looking for a way to raise money from Capital Gains...

    For experienced will writing – it’s more than just form completion

    Can I make a will online? After the past few months this has become a very relevant question. Our Private Wealth & Inheritance team have kept working throughout lockdown during which time we made hundreds of Wills – so the answer is very firmly yes. But we have...

    New Rules – Trust Registration Services

    Earlier this year we warned you about the Trust Registration Service (TRS) and the obligations that were to be placed on many unsuspecting trustees. We now know what the rules are going to require us to do. It is not quite as bad as is might have been, but it is still...

    Making a Lasting Power of Attorney – before it’s too late

    Have you ever considered whether your family would be able to manage in a situation where you were unable to sign documents or make decisions for yourself. Everyone is aware of the importance of making Wills but Powers of Attorney can often be left at the bottom of...

    Virtual Weekend LPA Clinic

    Would you like to learn more about Lasting Powers of Attorney?  We are dedicating an entire weekend to you for this purpose.  We will talk to you, free of charge, on a no obligation basis, limited to 15 minutes. Planning ahead and making provision for the future is...

    An introduction to Herrington Carmichael Trust Corporation

    For many years, clients have chosen to appoint solicitors as their attorneys, executors and trustees. This brought several advantages in some circumstances but there was always a small risk, rare in practice, that problems could arise if an involved solicitor retired...

    Making a will via video technology

    As the eagle eyed among you may have spotted in the news, when it comes to making a will, the government has announced that it is legalising the remote witnessing of a will. This will make things much easier for people to record their final wishes during the current...

    Pitfalls of DIY Lasting Powers of Attorney

    This is the second of three articles designed to highlight the pitfalls of do it yourself Wills, Lasting Powers of Attorney and Probate.  Our first article concentrated on the pitfalls of DIY Wills - which you can read here.  This article now explores the dangers of...

    Virtual Weekend Wills Clinic

    We are dedicating a weekend to you and your will. Often our lifestyles don’t allow for a midweek appointment and then, along comes the weekend and you can’t always speak to a professional. So we are making ourselves available to talk to you, free of charge, for 15...

    Herrington Carmichael LLP‘s personal tax, trusts and probate practice serves a range of clients including high-net-worth individuals with assets based abroad. In addition to areas such as estate planning and tax, Alexander Mulroe , who joined from Paris Smith LLP, assists elderly and vulnerable clients. Managing partner Frankie Tierney handles a range of disputes involving wills and trusts and undertakes Court of Protection work where mental capacity is in issue. 

    Legal 500, 2020

    Latest news & insights

    Our pricing guides

    Our pricing guides are for standard services and may be subject to increases where an individual case requires non-standard services. All prices are in Sterling (£) and VAT will be charged on top of the price at the applicable rate.

    Price estimates for all other services are calculated once we know more about your individual case. 

    Private Client Team

    • All departments
    • Agricultural Law
    • Banking and Finance
    • Brexit
    • Business Disputes
    • Commercial Law
    • Commercial Property
    • Competition Law
    • Construction
    • Construction disputes
    • Consumer Law
    • Corporate - MBOs & MBIs
    • Corporate Governance
    • Corporate Law
    • Corporate lending
    • Data, IT & Technology
    • Debt Recovery
    • Disputes - Declarations of trust
    • Disputes - Probate and inheritance
    • Disputes - Professional negligence
    • Disputes - Restrictive Covenants
    • Disputes - Shareholders & Partnership
    • Disputes - Tenants in Residential Property
    • Disputes - Wills, trusts & probate disputes
    • Disputes and Small Claims
    • Disputes with Co-owners
    • Divorce
    • Employee - Termination
    • Employer - Termination
    • Employment
    • Employment - Business protection
    • Employment - Collective consultations
    • Employment - Contracts, services, consultancy
    • Employment - Employee benefits
    • Employment - Employee Procedures
    • Employment - Equality, discrimination and harassment
    • Employment - Family Friendly Rights
    • Employment - GDPR and Data Protection
    • Employment - Post employment obligations
    • Employment - Redundancy & Reorganisation
    • Employment - Settlement Agreements
    • Employment - Tribunal Claims
    • Employment - TUPE
    • Employment - Wages, holiday and sick pay
    • Employment - Workers rights
    • Employment Tribunal claims
    • Estate Administration
    • Expat Legal Services
    • Family Law
    • Financial Services
    • GDPR
    • Help to Buy
    • Immigration law
    • Intellectual Property
    • International Legal Services
    • Key Property Contacts
    • Land and Property Disputes
    • Land, development and construction
    • Lasting Powers of Attorney
    • Leasehold
    • Licensing Law
    • Money, Tax and Inheritance
    • New Build Conveyancing
    • New Businsess
    • Property Finance
    • Property Law
    • Recovery & Insolvency
    • Regulatory, Compliance & Competition
    • Residential Property
    • Residential Property - Completions
    • Residential Property - Shared Ownership
    • Wills, Trusts and Probate

    Award winning legal advice

    We are solicitors in Camberley, Wokingham and London. In 2019, Herrington Carmichael won ‘Property Law Firm of the Year’ at the Thames Valley Business Magazines Property Awards, ‘Best Medium Sized Business’ at the Surrey Heath Business Awards and we were named IR Global’s ‘Member of the Year’. We are ranked as a Leading Firm 2020 by Legal 500 and Alistair McArthur is ranked in Chambers 2020.



    60 St Martins Lane, Covent Garden, London, WC2N 4JS 

    +44 (0) 203 755 0557



    Building 2  Watchmoor Park, Riverside Way, Camberley, Surrey. GU15 3YL

    +44 (0)1276 686 222



    Opening Soon

    +44 (0)118 977 4045


    © 2020 Herrington Carmichael LLP. Registered in England and Wales company number OC322293.

    Herrington Carmichael LLP is authorised and regulated by the Solicitors Regulation Authority.

    Privacy   |   Terms and Conditions   |   Cookies   |   Client Feedback