HMRC is changing how self-employed people and landlords report their earnings to the tax authority. The old annual Self Assessment model is …
Succession and
Estate Planning in the UK
Protecting your wealth is just as important as building it. Ensure your legacy passes to the next generation without unnecessary tax burdens. Effective estate planning makes sure that your hard earned assets whether a family business, property portfolio or personal investments pass to the next generation without unnecessary tax burdens or legal complications.
Your Legacy Our Expertise
IBISS & CO understand that succession planning is about more than just numbers. It is about your legacy. Inheritance Tax is often called a voluntary tax because, with the right foresight and structuring, it can be significantly reduced or even eliminated. Our Chartered Tax Advisers work closely with you to design a strategy that saves your family’s financial future.
Estate Planning for Business Owners
For business owners, personal wealth and company assets are often deeply intertwined. Without a clear succession plan, your business could face forced liquidation or a leadership vacuum.
Maximising Business Property Relief (BPR)
One of the most valuable reliefs available to UK business owners. If your business qualifies, BPR can give up to 100% relief from Inheritance Tax on qualifying assets.
Exit Strategies & CGT
Whether passing reins to children or selling, early planning is critical. We help structure exits to minimise Capital Gains Tax (CGT) and ensure a smooth transition that disrupts neither business nor family harmony.
Family Investment Companies (FICs)
As tax rules surrounding traditional Trusts have become more punitive, Family Investment Companies (FICs) have emerged as a powerful alternative for High Net Worth individuals and families looking to manage generational wealth.
- Tax Efficiency: Profits within an FIC are taxed at Corporation Tax rates (currently lower than higher rate Income Tax), allowing faster reinvestment.
- Control: As founder, retain voting rights while gifting non-voting shares (value) to children, preventing premature access to large capital sums.
- Flexibility: Unlike Trusts, FICs are not subject to immediate 20% entry charges or 10-year anniversary charges.
Our Core Estate Planning Services
IHT Mitigation
Utilising lifetime gifting strategies, Potentially Exempt Transfers (PETs) and Gifts out of Surplus Income to legally reduce your taxable estate.
Trusts & Compliance
Trusts still play an important role for many. We handle all tax compliance, registration and tax returns for existing family structures.
Wills & Legal Co-ordination
A tax strategy is useless without the legal documents to back it up. We work with your solicitors or recommend trusted partners to make sure your Wills and Lasting Powers of Attorney align perfectly with your tax planning.
Non Dom Estate Planning
For international clients, UK IHT rules can be complex. We offer specialist advice on Excluded Property and the (FIG Regime) tax implications of bringing foreign assets into the UK.
Next Step:
If you are ready to explore how IBISS & CO can support your property business or investments. Reach out to one of our property specialists at your nearest location or fill out our contact form for more information. We’re here to provide expert guidance tailored to your Succession and Estate Planning needs
Why Choose IBISS & CO as Your Estate Planning Accountants?
Dual Expertise As Tax Advisers and Chartered Accountants. We understand both the commercial mechanics of your business & the personal nuances of your family wealth.
Proactive Not Reactive Many accountants only file returns for what has already happened. We structure your wealth now to prevent tax issues later.
Specialised Sector Knowledge From Buy to Let landlords to tech entrepreneurs, we have deep experience in the specific tax reliefs available to your industry.
IBISS Offices Location
Frequently Asked Questions
How does a Family Investment Company (FIC) reduce Inheritance Tax?
An FIC allows you to transfer value out of your estate by gifting shares to family members. Since the growth in value of these shares accumulates outside of your personal estate, it caps your IHT liability. Additionally, because minority shareholdings are worth less than the whole, share valuations can often be discounted for tax purposes.
Can I pass on my Buy to Let property portfolio without paying Capital Gains Tax?
Transferring investment properties to children usually triggers Capital Gains Tax (CGT) on the increase in value. However, if you incorporate your portfolio into a company or use specific holdover reliefs, it may be possible to defer this tax. This is a complex area requiring expert advice.
Does my business qualify for Business Property Relief (BPR)?
Not automatically. Your business must be mainly trading. If your company holds large investment assets like rental property or large cash piles not needed for future trade, HMRC may deny BPR. We can conduct a BPR Health Check to assess your position.
What are the 7 steps in the estate planning process?
At IBISS & CO, we follow a structured approach to ensure nothing is overlooked:
- 1. Valuation: Calculating the total value of your estate.
- 2. Beneficiaries: Designating who you want to inherit.
- 3. Relief Review: Checking for reliefs like BPR or APR.
- 4. Structuring: Setting up Trusts or FICs for tax efficiency.
- 5. Legal Documentation: Drafting Wills and LPAs.
- 6. Implementation: Executing gifting strategies.
- 7. Review: Regular updates to adapt to new tax laws.
How much does estate planning cost in the UK?
Costs vary significantly based on the complexity of your asset base. A simple Will may be relatively low cost, whereas comprehensive tax structuring involving Family Investment Companies or Trusts requires a bespoke fee. At IBISS & CO, we believe in transparency and provide a fixed quote following an initial discovery call.
What is the 3-year rule for a deceased estate?
The "3-year rule" typically refers to the relief on the sale of land or property. If executors sell a property within 3 years of the death for a lower price than the value at the date of death (Probate value), they can claim a refund on the Inheritance Tax overpaid. This prevents estates from paying tax on value that was never realised.
Who benefits most from estate planning?
While everyone needs a Will, comprehensive estate planning is most beneficial for:
- Individuals with estates over the £325,000 threshold.
- Business owners seeking to protect assets.
- Families with complex dynamics (e.g., second marriages).
It ensures that your wealth goes to your chosen beneficiaries rather than being lost to HMRC.
What is succession planning?
Succession planning is the strategic process of passing control and ownership of a business or asset portfolio to the next generation. It involves more than just a Will; it requires balancing tax efficiency with leadership transition to ensure the business survives and family harmony is maintained.
Protect Your Legacy Before It’s Too Late
Don’t leave your legacy to chance or to HMRC. Estate planning is one of the kindest things you can do for your family, removing financial stress during difficult times.
Contact Us Online
Confused Where To Start?
Schedule a Free 15-minute discovery call by providing your contact details, mentioning your requirements, and selecting a convenient date for the call.
How our discovery call works:
- Complete Our Contact Form
- Discovery Calls Scheduled
- Receive a Tailored Proposal
Reviews
Google
Facebook
Vouchedfor
Trustpilot
Google
IQBAL ZAFAR
I have been IBISS & CO client for past 7 years. Their team is professional and proactive who assist me in filing my overseas and UK tax disclosure.
Ahmed Hussain
I’ve used them for the past few years now and I am very satisfied with their services. The staff are very amicable as well. Definitely recommend them.
Stephen Hudson
The response of IBISS and Co to my tax problem was rapid and professional. The advisor understood the problem and recommended
Andrea Callegari
Excellent service! Provided a clear explanation to my matter in a timely manner. Very helpful and polite. Highly recommend.
Facebook
John Mitchell
“IBISS & CO provided exceptional financial guidance. Their expertise and personalized approach helped streamline our investment strategy. Highly recommend for anyone seeking top-tier financial services.”
Sarah Thompson
Working with IBISS & CO was a game-changer for our business. Their insightful advice and thorough analysis led to significant financial growth. Outstanding service!
Michael Reynolds
IBISS & CO exceeded expectations with their professional and strategic approach. They understood our needs and delivered results beyond our expectations. A reliable partner in finance.”
Emily Carter
“IBISS & CO’s financial planning transformed our portfolio. Their team’s dedication and deep market knowledge ensured we made the best decisions. A trusted partner for financial success.”
Vouchedfor
Ashton Mills
IBISS & CO provided outstanding service, handling our project with precision and care. Their expertise made a significant difference, ensuring we achieved our goals efficiently.”
Lily Parker
Partnering with IBISS & CO was a game-changer. Their dedication to excellence and proactive approach led to exceptional outcomes. Highly recommend them for any business endeavor.”
James Turner
IBISS & CO exceeded expectations. Their professional team delivered top-notch results, staying committed to our needs throughout. A trusted partner in every sense.”
Sophia Grant
Working with IBISS & CO was a pleasure. Their focus on client satisfaction and detail-oriented service ensured our project’s success. They’re a reliable and highly skilled team.”
Trustpilot
Sarah J
BISS & CO exceeded our expectations with their professionalism and expertise. Our project was delivered on time and flawlessly executed.
Mike L
Outstanding service! BISS & CO’s attention to detail and client-focused approach made all the difference
Jessica M
Working with BISS & CO was a breeze. Their team is knowledgeable, responsive, and truly cares about client satisfaction.
David P
BISS & CO delivered exceptional results on our project. Highly recommend their services for anyone seeking quality and reliability.
BLOG
Explore the IBISS blog and case studies for helpful tips on tax accounting and business advice. If you need expert support just get in touch with us. The IBISS & CO expert team accountants & tax advisers is always here to help you and your business succeed.
Every year, thousands of people open a letter from HMRC, spot the letter K at the start of their tax code, and …
Efficiency is rarely about choosing one. Salary vs dividends refers to the two primary methods UK company directors use to extract profit …