Inheritance Tax & Probate Planning

It is vital to plan adequately for inheritance tax, we can help.

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Inheritance Tax & Probate Planning Advice in Glasgow

It is vital to plan adequately for inheritance tax so that it does not fall negatively on your loved ones after you die. Inheritance tax can have a detrimental impact on their finances as a result of reduced assets after probate and the executry process has been completed. 

Having an understanding of inheritance tax, and planning appropriately with the help of solicitors can make estate planning easier and relieve unnecessary stress and costs for your family in the future. 

Neil Kilcoyne & Co’s team of experienced solicitors can provide detailed advice about inheritance tax in Scotland, and across the UK. As trusted personal law solicitors, we know all about the concerns over what taxes are payable to a deceased estate. We can guide you, during and after the probate and confirmation process, so that you can administer an estate correctly and help you calculate the costs before winding down an estate.

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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 be money, property, shares or any other possessions. 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.

Inheritance Tax Threshold in Scotland


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 as well as if 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. 

IHT 400

An IHT400 is a form to be filled out when inheritance tax is due. You do not need to fill out an IHT400 if you are dealing with an exempt estate. A solicitor can help you with filling out an IHT400 as well as ensure you have paid all the relevant taxes.

Inheritance Tax Solicitors in Scotland

Executors are often left feeling lost and overwhelmed with all the complex legal processes and strict timings after a loved one has died. Our leading executry solicitors and lawyers at Neil Kilcoyne can help to relieve the pressure and provide you with the help and guidance you need during a difficult time. 

We can help you effectively plan in advance for inheritance tax to help reduce the financial burden on your family in the future, as well as assist you with will writing. Our solicitors can also help you navigate the executry and probate process, and help you establish if you are paying too much inheritance tax and what you need to do during this time. 

Get in touch today to discuss your financial situation and ask any questions you may have. We can also advise on probate without a will, international probate, and estate planning.

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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.