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.

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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 >

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...

Pitfalls of DIY Wills

This is the first of three articles designed to highlight the Pitfalls of DIY Wills, Lasting Powers of Attorney and Probate.  Please keep an eye out for further articles being posted over the coming weeks. As a Private Client lawyer who specialises in wills, I am...

Inheritance Tax Planning: Should we be planning now?

When eventually we come out of lockdown and the after-effects of COVID19 on our economy, and in particular on public finances, start to be fully addressed there seems little doubt that the government is going to have to find ways to collect more tax.  The most obvious...

Inheritance Tax Planning: Gifts out of income

You may well be aware that you can give away £3,000 in any tax year with no IHT consequences. Many people do this, some every year and others year by year as their financial position permits. Far fewer people are aware of another exemption that can be very useful in...

Inheritance Tax Planning: Top 10 Tips

Life Policies / Pensions / Death in Service BenefitsTake time to review your policies and options as there is potential to pass them to beneficiaries outside of your estate. Use allowances if you have excess fundsYou do have individual allowances available to make...

Inheritance Tax Planning: Making gifts in your lifetime

You may have come to a point in your life where you have amassed a large amount of capital and have more than you reasonably need to live off. If you are considering how you can give away your excess wealth effectively, there are a number of factors to consider....

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.  What is it? The Residence Nil Rate Band (“RNRB”) is an additional inheritance tax ‘free’ allowance that can be claimed, on top of...

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

Pitfalls of DIY Wills

Pitfalls of DIY Wills

This is the first of three articles designed to highlight the Pitfalls of DIY Wills, Lasting Powers of Attorney and Probate.

read more

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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.  Contact us for more information.

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.

Awards | Accreditations 

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Accredited Conveyancing Lawyers
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60 St Martins Lane, Covent Garden, London, WC2N 4JS 

+44 (0) 203 755 0557

 

Camberley

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

+44 (0)1276 686 222

 

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Opening Soon

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info@herrington-carmichael.com

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