If you have been reading the national press lately (especilaly the Daily Mail and The Express) there is a huge outcry about people having to pay Inheritance Tax on their estate if they have assets above £275,000 including the family home at a whopping 40%.
It is estimeted that 34% of all households in England and wales are in the Inheritance Tax Trap purely due to the the value of the family home. This Labour government has not increased the threshold to keep pace with house inflation and took over £3 Billion in Inheritance Tax last year. This is the equivalent of 1 penny on income tax.
For more indepth information go to http://www.estplan.co.uk/inheritancetax.htm
Most people can get their estates up to £550,000 before paying Inheritance Tax purely by writing their wills the right way.
Rember " A will can achieve a lot more than you think"
It is estimeted that 34% of all households in England and wales are in the Inheritance Tax Trap purely due to the the value of the family home. This Labour government has not increased the threshold to keep pace with house inflation and took over £3 Billion in Inheritance Tax last year. This is the equivalent of 1 penny on income tax.
For more indepth information go to http://www.estplan.co.uk/inheritancetax.htm
Most people can get their estates up to £550,000 before paying Inheritance Tax purely by writing their wills the right way.
Rember " A will can achieve a lot more than you think"
2 comments:
Can same sex partners whoi have been through a civil partnership take advantage of this?
Yes when the civil partnership act came into force it gives the same rights as married couples have with regards to Inheritance Tax
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