Personal Legal

Inheritance tax advice in Scotland

Minimise Your Liability

Understanding Inheritance Tax in Scotland

Concerned about the potential inheritance tax on your estate? There are ways to mitigate this.

Inheritance tax in Scotland may be applicable if your estate exceeds the £325,000 threshold upon your passing.

Exemptions & Reductions 

Here are exemptions and reductions to consider:

Speak to our team

  1. Exemption for Timely Gifts

    Gifts made more than seven years before death are not subject to inheritance tax.

  2. Charitable Donations

    Gifts to charities, whether made during your lifetime or specified in your will, are exempt from inheritance tax.

  3. Lifetime Gift Exemptions

    Certain gifts made during your lifetime also qualify for exemptions.

The value of your estate will be assessed posthumously to determine any applicable inheritance tax. The standard rate stands at 40% on the value exceeding the £325,000 threshold. Typically, the executor of your estate handles the payment of this tax from the estate's assets.

Strategies to Reduce Inheritance Tax

The key to reducing your inheritance tax liability lies in early and informed planning. Our legal experts can provide tailored advice, including:

Speak to our team

  1. Estate Planning Strategies

    Guidance on structuring your estate to lower tax obligations.

  2. Tax-Efficient Gifting

    Advice on making gifts that maximise tax efficiency during your lifetime.

  3. Consult an Inheritance Tax Specialist

    Ready to take control of your inheritance tax situation? Our team of specialists is equipped to offer personalised advice, ensuring your estate is managed efficiently with minimal tax liability.