What is Inheritance Tax (IHT)?
It is a tax payable on someones estate upon their death.
How much tax is payable?
40% on anything over £325,000 (Nil Rate Band) currently.
When is IHT payable?
It is payable within six months of death.
If it isn't then there are penalties and charges to pay to taxman.
Also probate isn't granted until IHT is paid. This means no one gets anything until the taxman gets his share!
Can IHT be avoided or reduced?
Yes most certainly.
There are many ways to avoid and reduce the amount of inheritance tax.
There are some allowances to reduce it also.
How can we help?
We can help you by assessing how much your estate is worth.
We can then advice you on how best to set up tax planning strategies to reduce or in most cases eliminate IHT.
Most of the time its a simple matter of rearranging "how you own" your stuff.
Other times we use trusts to reduce or eliminate IHT.
Contact Us
It is a tax payable on someones estate upon their death.
How much tax is payable?
40% on anything over £325,000 (Nil Rate Band) currently.
When is IHT payable?
It is payable within six months of death.
If it isn't then there are penalties and charges to pay to taxman.
Also probate isn't granted until IHT is paid. This means no one gets anything until the taxman gets his share!
Can IHT be avoided or reduced?
Yes most certainly.
There are many ways to avoid and reduce the amount of inheritance tax.
There are some allowances to reduce it also.
How can we help?
We can help you by assessing how much your estate is worth.
We can then advice you on how best to set up tax planning strategies to reduce or in most cases eliminate IHT.
Most of the time its a simple matter of rearranging "how you own" your stuff.
Other times we use trusts to reduce or eliminate IHT.
Contact Us
