When Do You Have To Pay Inheritance Tax?

Ravi Solanki • June 1, 2026

Inheritance tax can be a substantial burden if your loved one has assets that put them over the threshold for payment and one of the challenges can be how quickly you have to pay this tax after someone has passed away.

In general, you have to pay your inheritance tax bill within six months of someone passing away, which can put you and your family under pressure to make financial decisions quickly – often during the months when you need to take life more slowly.

What happens if you don’t pay inheritance tax on time?

As with any other late tax bill, HMRC can charge you interest on the amount that you owe in inheritance tax, which can build up and put you and your family under even greater financial strain.

This is why it’s so important to engage a professional to support you with inheritance tax planning in Romford, or wherever you live, so that you can ensure your loved ones are able to meet these tax liabilities after you’ve gone.

Are there any ways to delay the payment of inheritance tax?

There are mechanisms by which you can pay any inheritance tax in instalments, such as if you need to sell assets like homes that might take longer than six months to complete.

However, it is important to note that even if you arrange to pay your inheritance tax bill in instalments, you will be charged interest on the outstanding balance after the first payment is made.

There are also different rules around when you need to pay inheritance tax if the money is being released from a trust, which you may want to explore as part of your inheritance tax planning strategy.

An experienced advisor will be in a position to look at your assets and your potential tax liabilities, and help you create a plan that will minimise your tax liabilities while also providing peace of mind and support for your loved ones.

What can you do to mitigate inheritance tax?

There are a number of legal strategies that you can use to help mitigate your inheritance tax liability, such as using your tax-free allowances wisely, setting up appropriate trusts, gifting in a planned and appropriate manner, and making use of business and property relief through careful planning.

The key, however, is to plan. There are certainly steps you can do to make the period after you have passed easier for your family both in terms of the financial stress and the administrative burden, but you need to start the process now.

The sooner you get your financial affairs in order, the better. Once you have an estate plan in place, which handles your inheritance tax responsibilities, it is relatively simple to review and update it at regular intervals.

If you are feeling uneasy about the potential inheritance tax liability on your estate, this is a sign to reach out and book a Clarity Call to find out what steps you can take to get started on your estate planning today.

It’s natural to feel unsure about discussing this topic, but trust me when I tell you that you will feel as though a weight has lifted when you put all the relevant documents and protections in place for your hard-earned wealth.

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When Should You Start Estate Planning?

By Ravi Solanki • August 28, 2026

Too many people in the UK still shy away from estate planning, as evidenced by research indicating that 56 per cent of adults in the country do not have a will in place. This only falls slightly, to 53 per cent, for those aged 50 to 64, indicating that many people are sticking their heads in the sand when it comes to what will happen to their assets when they pass away. But, of course, a will is only one element of an estate plan. There are many approaches you can use to help protect the wealth you have accumulated throughout your lifetime to pass on to your family and ensure they continue to reap the benefits of what you’ve sown. When should you start estate planning? The reality is that the sooner you start estate planning, the better. This is because an estate plan is not an activity you do once and then ignore. It is a living, breathing plan that can adapt as your life changes. Many people wait until their later years before they start thinking about what will happen to their wealth once they pass away. While it is certainly better to engage with estate planning services in your 60s than not to do so at all, it is even more helpful if you start at a younger age. One of the reasons for starting earlier is that you can make your wishes clear and ensure you have a plan in place before there could be questions over your mental capacity. It is a confronting fact, but the number of people with dementia in the UK is expected to rise to 1.4 million by 2040 , which means if you leave this process too late you may not be in a position to take control of your estate planning yourself. I share this not to scare you, but to highlight a genuine risk that many people overlook. What are the benefits of early estate planning? There are many advantages to starting your estate planning as soon as possible, chief among them that it gives you control over your future. Estate planning is an overwhelmingly empowering process and I see my clients go from feeling nervous at the prospect to feeling both relieved and in more control of their finances once they have created an estate plan with me. Other benefits of estate planning include: Being in a position to adapt your approach to new legislation around taxation. Being able to maximise the money you give tax-free to your family and loved ones. Reducing your inheritance tax bill by making smart financial choices. Maximising the amount you can give to members of your family and loved ones as tax-free gifts can be an important part of an estate plan. Under current rules, when you give someone money, that sum becomes exempt from inheritance tax provided you survive for at least seven years after making the gift. Of course, there are more complex rules surrounding this process than merely surviving seven years, and there are annual limits on how much of your wealth you can give away and in what form. This is why working with an experienced estate planner is so important. I’m here to talk you through your estate planning options at any time, simply book a Clarity Call to get started.