Specialists in inheritance tax law
At James McNulty & Co Solicitors, we have over 85 years’ experience in assisting local people in inheritance tax matters and it is an area of law we specialise in. We have a strong understanding of farming and rural law and our clients enjoy the confidence that comes from knowing that the bulk of their estate will pass to their loved ones, free from onerous death duties.
Current inheritance tax thresholds
The tax-free allowance for an individual is currently £325,000. Any unused allowance can be carried over to a surviving spouse. If you are an individual or an unmarried couple with assets over the tax free allowance, your estate could pay 40% tax on the value of your estate above this figure upon your death.
Let us advise you on your inheritance tax strategy. We work closely with other advisors such as accountants and IFAs on an ongoing basis, accumulating a depth of knowledge and practical expertise on inheritance tax planning which allows us to share this high level of expertise with our clients. We are happy to talk through your options and liaise with your accountant or IFA as necessary.