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FCA Regulated
Chartered Status
Whole of Market
5-Star Rated
Transparent Fees
First Equitable inheritance tax planning at a glance
Location: 3rd Floor, 14 Castle Street, Liverpool L2 0NE, serving Liverpool, Merseyside, the Wirral and the North West
What we help with: forecasting, reducing and funding inheritance tax, including gifting, trusts, business relief, charitable giving and life cover in trust
Specialisms: pensions and estate planning combined, important with pensions entering the IHT net from April 2027
Credentials: Chartered status, FCA regulated (FRN 782577), independent and whole-of-market
Getting started: free initial consultation at our cost, with no obligation to proceed
Why inheritance tax planning matters now
Frozen allowances matter because your assets are not frozen. As house prices and investments grow, more estates are pulled over the threshold each year, a effect often called fiscal drag. It shows in the receipts: HMRC collected a record inheritance tax take of around £7.6 billion in the eleven months to February 2025, and the total has kept climbing. The earlier you plan, the more of the effective tools are open to you, because several of them, such as gifting, work best over a period of years.
The 2027 pension change, and why it matters here
For years, leaving a pension untouched was one of the most tax-efficient ways to pass on wealth, because unused pension funds sat outside your estate. That is changing. From 6 April 2027 most unused pension funds will count as part of your estate for inheritance tax. Where death occurs after age 75, your beneficiaries can also pay income tax on what they draw, so the combined effective rate can be very high.
This reshapes good planning. The old order of spending other savings first and preserving the pension no longer holds automatically. Because we advise on pensions and drawdown as well as estate planning, we look at both together, rather than treating your pension and your inheritance tax as separate problems. You can read our view on the change in our article on pensions and inheritance tax from 2027.
Our wealth management services
Pension & Retirement Planning
The Whether retirement is decades away or just around the corner, we help you build a strategy to get there. Pensions advice, consolidation, drawdown and annuity purchase, all explained in plain English by a dedicated adviser.
Wealth Management
Growing your wealth is one thing, keeping hold of it is another. Independent, whole of market advice on savings and investments, wealth preservation, and trusts and inheritance tax planning, built around what you actually want your money to do.
Protection Planning
Life rarely gives notice. Life insurance, critical illness cover, income protection and private medical insurance, arranged so your family and your income are covered if the worst happens, without paying for cover you don't need.
Financial Planning for Business Owners
Running a business leaves little time for your own finances. We bridge the gap between the two, advising on company pension schemes, corporate savings and investments, and protection, working alongside your accountant and legal advisers.
Wills & Power of Attorney
Making your wishes clear now saves your family difficulty later. We help you put a valid will in place and set up a lasting power of attorney, so the right people can act if you no longer can.
Probate & Estate Administration
Administering an estate is daunting at the worst possible time. We guide executors through the grant of probate, settle debts and taxes, and distribute the estate properly, with a fixed quote agreed before any work begins.
Reducing an inheritance tax bill
There is rarely a single answer. We start by forecasting the likely bill on your estate using cashflow modelling, then combine the tools that suit your circumstances and your wishes. Depending on your situation, a plan might include:
- Making full use of your allowances and the spouse or civil partner exemption
- Gifting to family, using the annual exemptions, the seven-year rule on larger gifts, and the often-overlooked exemption for gifts out of surplus income
- Placing assets into trusts so they pass outside your estate and are protected for the next generation
- Business relief, through a business or qualifying investments, which can fall outside the estate
- Charitable giving, which is itself exempt and can reduce the rate on the rest of your estate to 36%
- Making sure you have a valid will and a lasting power of attorney in place
Inheritance tax planning sits close to the line between what is and is not effective, and it interacts with your income, your retirement and your investments, so it is an area where qualified, joined-up advice earns its keep.
Funding an inheritance tax bill
Not every bill can, or should, be planned away. Some clients would rather keep control of their assets and simply make sure the tax can be paid without stress. This matters because of a catch-22: your estate usually cannot be distributed until the inheritance tax is paid, but the money to pay it is often locked inside that same estate. Executors can find themselves needing to raise the cash themselves at the worst possible time.
The usual solution is a whole-of-life insurance policy written in trust. It pays out on death, outside your estate, giving your family the cash to settle the bill straight away. We advise on whether this route makes sense for you, how much cover is sensible, and how to structure it correctly, alongside our protection advice.
Why choose First Equitable for IHT planning in Liverpool
Chartered expertise
Chartered status is the gold standard in financial planning – your assurance of qualification, experience and ethics.
Truly independent
Whole-of-market advice with no ties to any provider, so you get the right solution rather than an in-house one.
Plain English, always
We explain everything clearly so you feel informed and in control of your financial decisions.
Transparent fees
All charges are disclosed and agreed before any work begins – no surprises, no hidden costs.
Local and personal
A dedicated adviser you can meet at our Castle Street office, by video, or over the phone — whatever suits you.
What our clients say
Fees and getting started
Your first consultation is free and carries no obligation. It is a chance to understand the likely size of the problem and whether we are the right fit before you commit. If you decide to go ahead, we agree all charges with you in writing before any work begins, so there are no surprises. You can read more on our charges page. To begin, book a call or get in touch and we will arrange your consultation at a time that suits you.
Getting started is simple
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Free consultation
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Your tailored plan
We analyse your position using sophisticated planning tools and build a clear, personalised financial plan.
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Ongoing partnership
We put the plan into action and review it with you over time as your life and the markets change.