Inheritance Tax is usually paid on an estate when somebody dies. Our specialist IHT Advisers can help you plan to substantially reduce your potential inheritance tax bill.
IHT Solutions
Will my estate be liable to Inheritance Tax?It is due if your estate - including any gifts made within seven years of death - is valued over £325000.
What are the thresholds for Inheritance Tax?The IHT on assets up to £325,000 is charged at zero. The tax is payable at 40 per cent on the amount over this threshold.
Should I be concerned about IHT?Given that many of us have estates where the main home alone is worth over £325,000 - yes you should.
What if I am married?Married couples and couples and civil partners can leave their estates to each other on death and that transfer is exempt from Inheritance Tax.
Since October 2007, with careful planning assisted by our Advisers married couples and registered civil partners can effectively increase the threshold on their estate when the second partner dies - to as much as £650000. Their executors or personal representatives must transfer the first spouse or civil partners unused Inheritance Tax threshold or nil rate band to the second spouse or civil partner when they die.
