Help your parents protect their legacy
Start the conversation, understand what’s at stake, and plan with confidence.
Talking about inheritance with your parents isn’t easy — but waiting can make things harder.Our free guide and simple IHT Calculator can help you understand whether inheritance tax could affect your family, and how to start planning together.
Download our family inheritance guide
Get practical advice on how to start sensitive conversations, what to discuss, and how to plan as a family.
Fill in the form to download your guide
Our IHT Calculator
See in minutes whether your parents’ estate could face an inheritance tax bill — and how much might be at stake.
Why plan now?
Inheritance tax rules are changing, and more families are being affected every year. Early planning can help your parents:
- Keep more of their wealth within the family
- Avoid stress and confusion later on
- Make informed choices about gifting, care, and retirement
An Amber River financial planner can also highlight opportunities you may not have considered — from HMRC rule changes and care fees, to when and how to gift money or set up trusts.
Take the next step today
Whether you’re helping your parents plan their legacy or simply want to understand your family’s position, our free guide and IHT Calculator are a great place to start.
What our clients say
Read our latest insights on Inheritance Tax
Explore expert articles on inheritance planning, wealth transfer, and protecting your family’s legacy from the Amber River team.
Frequently Asked Questions
What is Inheritance Tax (IHT)?
Inheritance Tax is a tax paid on the value of a person’s estate — including property, savings, and possessions — when they pass away. In the UK, the standard rate is 40%, but this only applies to the portion of the estate above the tax-free threshold (currently £325,000).
Who is responsible for paying Inheritance Tax?
Usually, the executor of the will or the administrator of the estate is responsible for paying Inheritance Tax to HMRC, using funds from the estate before any assets are distributed to beneficiaries.
Can my parents give away money to reduce Inheritance Tax?
Yes, but there are limits. Gifts made more than seven years before death are usually exempt from Inheritance Tax, while gifts made within seven years may be subject to a sliding scale of tax (known as taper relief).
Does property count towards Inheritance Tax?
Yes. Property often makes up the largest part of an estate’s value. However, there are allowances that can increase the tax-free threshold if a main residence is passed on to direct descendants.
What happens if my parents’ estate is shared between multiple children?
Inheritance Tax is calculated on the total value of the estate, not per beneficiary. The estate pays the tax first, and the remaining assets are then divided according to the will.
What is the Residence Nil Rate Band (RNRB)?
The RNRB is an additional allowance (currently £175,000) that applies when a main residence is left to children or grandchildren. Combined with the standard allowance, it can allow up to £500,000 to be passed on tax-free.
Can pensions be subject to Inheritance Tax?
Currently, most defined contribution pensions fall outside the estate for IHT purposes, but upcoming rule changes from 2026 may bring some pensions into scope. It’s important to review how your pension is structured.
How can financial planning help reduce Inheritance Tax?
A financial planner can help you and your family understand available allowances, structure gifts efficiently, make use of trusts, and ensure your estate is passed on in the most tax-efficient way possible.
Where can I calculate potential Inheritance Tax exposure?
You can use the Amber River IHT Calculator to see whether your family could be affected and how much may be at stake. It’s a quick, simple way to start planning with confidence.
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