Estate and Gift Tax covers how your estate is taxed on death and how lifetime gifts affect that tax. In England, the main framework is Inheritance Tax, including available reliefs, exemptions and the nil-rate band. A solicitor in this area helps with estate planning to mitigate tax, drafts wills and lasting powers of attorney, and handles tax calculations, declarations to HMRC, and applications for relevant reliefs on the client’s behalf. They also coordinate executors, collect assets, negotiate with HMRC, and ensure timely filing of estate accounts and tax forms where needed.
What a solicitor handles in these matters
Tax planning hinges on precise calculation of the nil-rate band and any residence or other reliefs, and on drafting structures that achieve efficient transfer of value while complying with UK tax rules. A solicitor in this field manages the complex interactions between lifetime gifts, potential clawbacks, and deadlines for declarations and returns, and handles liaising with HM Revenue & Customs, gathering necessary documentation, and advising on the timing of gifts to minimize exposure.