SJP Inheritance

Coming into a life-changing amount of money can affect you in surprising ways as you feel the responsibility of investing or using it wisely.

An adviser who understands how stress impacts decision-making can give you reassuring, respectful advice exactly when you need it. You’ll know you’re making the best choices in what may feel like an unfamiliar situation.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

“Before an adviser starts talking to you about investments, returns and tax, they will take time to understand you as an individual, as well as your family, to find out what your ambitions are.”

Andrew Cullen-Jones,
Director, Business Development & Advice

Crunch the numbers

£ 1000000

If the total value of your estate in 2020 was £1 million…1

£ 0

…the amount of Inheritance Tax payable would have been £0

£ 1507545

By 2028. the same estate could be worth over £1.5 million…2

£ 203018

…and the Inheritance Tax bill would be £203,0183

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

1 Assuming a couple combine their nil-rate bands (NRB, £325,000 each) and residence nil-rate bands (RNRB, £175,000 each, if their main property forms part of their estate and it’s passed on to a direct descendant).

2 Assuming the value of the estate in 2020 is made up of: investments worth £500,000 with growth after charges of 2.4% per year and property worth £500,000 with an annual increase in value of 7.67% (based on the average annual increase in UK property prices from 1953 to 2022, according to the Nationwide House Price Index).

3 That’s because the NRB and RNRB have remained the same since 2020 and will be frozen until 2028. Everything over the combined NRB and RNRB (£1 million) would be taxable at 40%, so this tax bill represents 40% of £507,545.

The value of financial advice
The value of financial advice

You’re looking for guidance with the risks and opportunities of new-found wealth. A trusted adviser can help. They’ll work with you to create a financial plan that fits your goals. And you’ll have the confidence of knowing you’re on the right track.

Discover the value of advice
What to do when you’re bereaved
What to do when you’re bereaved

Managing a loved one’s estate, applying for probate4 and having to reassess your short and long-term finances in the light of your loss can feel overwhelming just when you’re at your most vulnerable. Need help with this? That’s what we’re here for.

Learn how we can help

Please note that the services provided by any referral will be separate and distinct from those offered by St. James's Place. 

One-to-one financial advice when you need it most

Looking for knowledgeable, practical support with an inheritance? Our advisers can help.

Find an adviser
SJP Approved 05/04/2024