When the Government changes tax rules, the adverts always follow.
With new inheritance tax rules coming for pensions in 2027 and the recent introduction of a £1,000,000 cap on Business Relief and Agricultural Relief, the financial world is full of firms promoting inheritance tax planning services.
You have probably seen them.
Financial advisers, wealth managers, estate planners, trust companies, accountants.
All offering “free reviews”, “expert IHT planning”, and “specialist advice”.
What most people do not realise is this:
Inheritance tax planning is not a regulated service.
That means almost anyone can advertise it.
Consumers assume that anyone running an advert must be regulated, independent, qualified, and trustworthy. The reality is very different.
Before you talk to anyone about inheritance tax, it is worth understanding the landscape.
The Financial Conduct Authority regulates investment advice, pensions advice, and the recommendation of financial products. These areas require specific qualifications, professional standards, and oversight.
But inheritance tax planning itself is not regulated.
This creates a blind spot. It means:
Restricted firms can promote IHT planning as if it were independent advice
Advisers without chartered qualifications can present themselves as specialists
Unregulated trust companies and estate planners can sell complex trust arrangements without FCA supervision
Consumers have no easy way to know who they are speaking to
The skill and independence of the person you choose will determine the quality of the outcome, but most people do not appreciate the difference.
There are three broad categories of firms promoting IHT services. Understanding them helps you make better decisions.
Many national wealth managers fall into this category. They present as holistic advisers, but they are tied to a limited panel of products.
If your inheritance tax planning is built around products rather than strategy, it is because the adviser is restricted, not because it is the best solution.
“Financial adviser” is a broad term. It covers a wide range of qualifications. Some advisers are highly skilled, but many are not chartered and have never studied advanced tax, trusts, or estate planning.
Inheritance tax requires depth, not a generic certificate.
These firms can sell trusts, write wills, and provide tax suggestions, but they are not regulated by the FCA. If something goes wrong, you have no protection.
Many of these companies build their business model around selling expensive trust packages following a “free review”.
There is more noise in the market today for a reason.
New rules mean some pension death benefits may be subject to inheritance tax. This is technical, often misunderstood, and therefore very easy to advertise around. Confusion creates opportunity for sales, not clarity.
This rule change affects high net worth business owners and farming families. The impact is nuanced. Many families will need proper strategic planning, not quick fixes.
Whenever a major rule change hits, the gap between marketing and quality advice widens.
Many IHT adverts offer a free review. That sounds attractive. But the economics are clear.
If the review is free, something else must pay for it.
Most often, it is a trust, a product, a restructuring exercise, or an investment vehicle that generates fees for the promoter.
Inheritance tax planning should be strategic. It should be integrated with pensions, wills, business planning, and family needs. It should not begin with a product.
Three simple questions will protect you from most of the pitfalls:
If restricted, ask what products they are tied to and why.
If not, ask what level of qualification they hold in tax and estate planning.
If the firm is not FCA regulated, you have no recourse if things go wrong.
These questions are not confrontational. They are sensible.
Good decisions begin with clarity, not marketing.
Independent, chartered, FCA regulated advice looks very different from the sales-led approaches common in the market.
It is strategic, not product driven.
It integrates pensions, tax, trusts, and family objectives.
It is accountable, structured, and transparent.
Its only incentive is to produce the right outcome, not to sell something.
This is how we work at The Wealth Coach.
Many people want to understand their options before they speak with a firm.
If that is you, you can use Evoa, our private question space.
It helps you clarify your thinking, understand what matters, and avoid paying for information you can explore for free. People often find that by refining their questions first, they get much better value when they eventually speak to a professional adviser.
Inheritance tax planning is important, but it is rarely urgent.
Do not let adverts, fear, or free reviews guide your decisions.
Ask the right questions.
Choose the right people.
Take the time to understand who you are speaking with.
Good planning starts with clear thinking.
Nic Round is a Chartered Financial Planner and Chartered Wealth Manager, authorised and regulated by the Financial Conduct Authority.