Property News · February 4, 2013

Inheritance tax – how much, how you pay it, and how to reduce it


Inheritance tax (IHT) becomes an issue when someone dies. It is a one-off tax paid on the value of the deceased’s estate above a set threshold – currently £325,000.The tax is set at 40% of any value over that threshold, reduced to 36% if more than 10% of the estate is given to charity. To work out how much IHT, if any, needs to be paid, the executors of the estate need to add up the value of all of the assets, then subtract any debts, bills and funeral expenses. Continue reading…

Source : theguardian.com
Read more…Inheritance tax – how much, how you pay it, and how to reduce it

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