Currently Inheritance Tax is a tax payable on death at the rate of 40% on the value of your net assets over £325,000.
The first £325,000 is called the Nil Rate Band because although it is taxable to Inheritance Tax, it is taxed at 0%.
If you are married, the best way to pay less inheritance tax (or even none at all) is by making inheritance tax efficient Wills. We can help you do this.
The ‘cost of dying’ is now racing ahead of the rate of inflation
Recent research has revealed that the cost of dying is now the fastest rising fixed cost in the UK, ahead of costs of living including rent, utilities and food.
What does the Inheritance Tax Change mean to you?
Last week, during the Budget, the Chancellor formally announced a key change to Inheritance Tax (“IHT”) that would take affect from 2017.