Call now: 0208 866 6464
Existing clients tel: 0208 866 6464

The Sethi Partnership Solicitors

The Barn House, 38 Meadow Way,
Eastcote, Ruislip, Middlesex
England, HA4 8TB

Call now: 0208 866 6464
Existing clients tel: 0208 866 6464

The Sethi Partnership Solicitors

The Barn House, 38 Meadow Way,
Eastcote, Ruislip, Middlesex
England, HA4 8TB

Inheritance Tax Planning & Lifetime Giving


There are many benefits to making a Will. By doing so, you can ensure that there are clear instructions in place setting out what you wish to happen to your money, property and possessions after you are gone. A Will can also be used to effectively plan for Inheritance Tax (IHT) so that as much of your Estate as possible is passed on to the people and causes that are most important to you. The Inheritance Tax planning and Lifetime Giving Lawyers at The Sethi Partnership Solicitors can guide you through this process, offering straightforward, practical advice on reducing your liability for IHT.

Get in touch with us today on 0208 866 6464 or fill out our online enquiry form

IHT is paid on the assets that make up your Estate when you die – any IHT owed must be paid before Probate will be granted, and your assets can be distributed amongst your Beneficiaries. For the purposes of IHT, your Estate comprises of:

  • Your home and any other properties you own, including the contents
  • Money held in bank accounts, building societies or savings accounts
  • Your possessions such as jewellery, artwork, tools & collectors’ items
  • Investments and Shares
  • ISAs
  • Any sums that will be paid out under an insurance policy

There is usually no IHT to pay if either:

  • The value of your Estate is below the £325,000 threshold
  • You leave everything above the £325,000 threshold to your spouse/ civil partner, a charity or a community amateur sports club

Many legitimate steps can be taken to minimise the amount of IHT that will be owed by your Estate when you die. Our experienced IHT Planning Solicitors will take the time to meet with you and discuss your circumstances in detail to identify the best options for you to ensure that your liability for IHT is reduced as far as possible. We can advise on:

  • Planning for IHT through your Will
  • Creating and using trusts to minimise liability for IHT
  • Preparing for IHT through Lifetime Giving
  • Arranging your affairs to utilise tax reliefs
  • Deeds of Variation

Lifetime Giving, also known as Lifetime Gifting, involves the passing on or disposing of assets during your lifetime in order to reduce liability for IHT. Lifetime Gifts must be thoroughly investigated by the Executor of the Estate to calculate IHT and be reported to HM Revenue & Customs to avoid penalties. As such, it is advisable to instruct an Estate Planning Solicitor for guidance in ensuring that the strict rules relating to lifetime giving are adhered to. There are two types of lifetime gift:

For a gift to be a PET, the deceased must have survived for seven years after making the gift and have received no benefit from it. If this is the case, no IHT will be due, regardless of the value of the gift.

These are assets that have been given away at any time, but the deceased continued to receive income from it or a benefit of another kind. In this case, the asset must be valued at the time of death, and the seven year rule does not apply.

From 6th April 2020 the Residence Nil Rate Band has increased to £175,000. Married couples with children who leave an interest in a residential home can gift a combined value of up to £1 million free of inheritance tax to their children.

Contact our inheritance Tax Planning Solicitors in Ruislip, Middlesex

To discuss Inheritance Tax Planning and Lifetime Giving, call The Sethi Partnership Solicitors today on 0208 866 6464 or complete our online enquiry form .

Coronavirus COVID19 

In light of the Coronavirus and in an effort to assist our clients and the economy, we are offering reduced rates on our fees* in some areas of work valid for the month of April.

We are open for Business as Usual with mindful protection. 

Our lawyers are still fully able and equipped  to assist existing clients and new clients by telephone, email, facetime and online meetings. We are not encouraging face to face appointments but we do have an outside office that can be utilised for signatures etc. whilst keeping in line with social distancing.

Existing Clients
As our legal team are following government advice and working from home, if you need to contact them please call the office or email them directly. All our contact details can be found on our website at ‘Our Team’.

New Clients
At this time we encourage all of our prospective clients to contact us via telephone, e-mail or our online new client enquiry on our website. Your matter will be received by our legal team and they will call or email you back as soon as possible.

If any of our Local Eastcote Residents are alone, struggling or self- isolating and in need of any supplies/food/medicines/ please get in touch with us on 0208 866 6464 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

*Reduced rates include: preparation of Wills, initial 1 hour fixed fee for Employment matters, Landlord &Tenant matters, Conveyancing matters for first time buyers and key workers.

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