Award-Winning Probate & Inheritance Tax Solicitors in Glasgow
Understanding probate and inheritance tax can be challenging. But, the right inheritance tax legal advice helps you calculate what’s due, complete the right forms, and administer the estate properly. Minimise your tax liabilities and ensure that your estate is handled in accordance with your wishes, with Neil Kilcoyne Solicitors.
How we can help
Probate & Inheritance Tax Planning Advice in Glasgow
If inheritance tax isn’t planned for, it can reduce what your loved ones ultimately receive and create delays during the executry process. Getting the right inheritance tax advice early, and getting to grips with the probate process, can help you understand likely liabilities, avoid costly mistakes, and reduce stress for your family.
Neil Kilcoyne & Co’s award-winning team provides tailored inheritance tax legal advice for a wide range of situations, from straightforward estates to higher-value estates involving property, investments, business assets, or lifetime gifts.
Where appropriate, we’ll also advise on inheritance tax planning to reduce unnecessary tax and protect what your family receives.
What is Inheritance Tax?
After someone passes away, their assets will be collated or assigned and passed down in a will, and the collation of assets is known as their estate. An estate can consist of money, property, shares or any other possessions that hold financial or sentimental value. Inheritance tax is the tax on the estate of someone that has passed away.
If you plan to pass any assets down after you die, your family or whoever you have assigned these assets to could face a tax bill or deductions from your estate (also known as inheritance tax). Inheritance tax is likely to occur after the probate or confirmation process has been completed, so it is important to bear this in mind.
The total cost of inheritance tax can depend on the size of your estate and can be up to thousands of pounds. The laws surrounding inheritance tax both in Scotland and across the UK can be quite complex to understand, which is where a solicitor can offer clear guidance on calculating and paying inheritance tax.
Find out everything you need to know about IHT in our legal guide, How Does Inheritance Tax Work?.
Inheritance Tax Thresholds and Exemptions
Inheritance tax isn’t payable on all estates, and depending on the size of your estate and other factors, you could be exempt to pay. The inheritance tax Scotland threshold is generally at £325,000. This means that if the value of the deceased assets is less than or up to £325,000 you will not have to pay inheritance tax. Any assets that add up to over this value will be subject to the general inheritance tax fee of 40%.
Although this figure may seem daunting, there are exemptions to the inheritance tax above £325,000. These include:
- If there are assets passed over to a spouse or civil partner, these will be free of inheritance tax no matter what the total value is
- If there are assets passing to a registered charity, these are also free of inheritance
- If the deceased has a spouse or civil partner who died before them, they may have unused inheritance tax allowance which can be utilised to increase the maximum allowance
- If the deceased heritable assets are left to a direct descendent another different threshold/resident nil-rate band applies
- If the deceased held Agricultural property that may be exempt from inheritance tax albeit certain rules apply including the duration of ownership.
- If the deceased owned a business then the estate may qualify for business relief of either 50% or 100%of the business assets.
- If the deceased held AIM shares for at least 2 years they may be exempt from inheritance tax.
Additional factors to be considered when determining the inheritance tax of an estate also includes
- lifetime gifts of money up to seven years before the deceased passed away
- any property or items have been transferred for less than their value. The difference in value is also treated as a gift for inheritance tax.
There are also potential penalties if you do not pay inheritance tax within six months of the death, such as an interest rate. As well as this, during the administration process for the executor, any income may be subject to income tax and capital gains on sold assets to be the executor.
For more information, our legal guide, How to Avoid Inheritance Tax, breaks down exemptions, reliefs, and how to use them.
IHT 400
The IHT400 is used in cases where inheritance tax is payable and fuller reporting is required. If you’re unsure whether the estate is exempt or which forms apply, our inheritance tax solicitors can advise, prepare the paperwork, and ensure the correct tax is paid before the estate is distributed.
How can inheritance tax solicitors help?
Inheritance tax issues often overlap with probate, property, gifting, trusts, and family circumstances, so getting joined-up advice matters. The law around IHT can be complex, and navigating it without expert guidance may result in paying more tax than necessary.
Our inheritance tax solicitors and inheritance tax lawyers will:
✅ Assess the estate’s value and identify what’s taxable
✅ Apply relevant exemptions and reliefs to reduce IHT where possible
✅ Provide practical inheritance tax planning options (including will planning, lifetime gifting strategies, and trust advice where appropriate)
✅ Handle local and international probate and inheritance tax administration end-to-end, including Confirmation and distribution
✅ Explain your responsibilities clearly if you’re acting as an executor
If you need support with probate and inheritance tax, we’ll guide you step-by-step and keep everything clear. Contact our Glasgow team to book an appointment or request a free telephone consultation.
Get in Touch
Contact our team of dedicated lawyers on our 24 hour solicitor helpline to start getting the legal assistance you’re looking for.
With offices based in Glasgow in Scotland, we’re able to give you the help you need, when you need it. Get in touch with a member of our team today to book an appointment or for a free telephone consultation.
FAQs
No, remarrying does not directly affect your inheritance tax (IHT) liability. However, if you leave your estate to your spouse, it’s usually exempt from IHT. Additionally, you can transfer any unused inheritance tax threshold (nil-rate band) from a late spouse to a new one, potentially doubling your tax-free allowance. Proper estate planning with legal advice can help you maximise these benefits and reduce IHT for your heirs.
You can gift your home, which would reduce inheritance tax (IHT), but certain rules apply. If you give away your home and continue living in it without paying market rent, it may still be considered part of your estate for IHT purposes. To avoid this, you must move out or pay rent to the new owner. Also, the gift must be made at least seven years before your death to be fully exempt from IHT. Seek legal advice for proper planning.
Inheritance tax (IHT) may be payable on gifts if you pass away within seven years of making them. These are called “potentially exempt transfers.” Gifts made more than seven years before death are exempt. Certain small gifts, such as annual exemptions of up to £3,000 or gifts for weddings, are free from IHT. However, if the total gifts exceed the nil-rate band (£325,000), IHT may apply on a sliding scale. It’s important to plan carefully and seek expert advice.
Inheritance tax (IHT) is usually paid by the executor or administrator of the deceased’s estate, using funds from the estate itself. If IHT is due on gifts made in the seven years before death, the recipient may be responsible for paying it, though this typically depends on the size of the estate and available funds. It’s important for executors to ensure that IHT is paid before distributing assets to beneficiaries.
For married couples, inheritance tax (IHT) rules provide significant benefits. Assets passed between spouses or civil partners are typically exempt from IHT, regardless of their value. Additionally, if a spouse doesn’t use their full inheritance tax threshold (the nil-rate band, £325,000), the unused portion can be transferred to the surviving spouse, potentially doubling the tax-free allowance to £650,000. Couples may also benefit from the Residence Nil-Rate Band (RNRB) when passing on a family home to direct descendants.