Paying tax is a fact of life but Inheritance Tax (IHT) is one of those taxes when some forward planning can make a big difference. That's why Standard Life has designed this site, which we hope you find useful & informative.

In his Pre-Budget speech in October 2007 the Chancellor announced some changes to IHT that will be introduced in the Finance Bill 2008.

For individuals the IHT threshold (nil-rate band) is £312,000, however for married couples and those in civil partnerships it’s £624,000 rising to £700,000 by 2010. This is because couples will be able to transfer the proportion of unused IHT nil-rate band on their death to the estate of their surviving spouse or civil partner. The value of an estate above the nil-rate band is subject to IHT at a rate of up to 40%, unless an exemption applies.

Even with these changes, IHT is still a tax that will affect a number of people, not only the super rich. Fortunately you can plan to reduce any potential IHT liabilities, and sometimes remove them altogether. The key is to be prepared and to act sooner rather than later. This is a great first step. And if you 'd like to talk through your personal IHT requirements in more detail then why not email us or call us and we can arrange for you to meet one of Standard Life's Private Client Managers. They are specialist, professional advisers who can provide invaluable help with IHT planning.

Any reference in this website to legislation and taxation is based on Standard Life's understanding of law and HM Revenue & Customs practice at date of production. Tax and legislation are liable to change in the future.