An Introduction to Inheritance Tax
Inheritance Tax (IHT) has come under the spotlight over the past few years, due largely to the continued rise in house prices. These days, you don’t have to be hugely wealthy to be affected by IHT. More people than ever before are calculating the value of their estates and finding they have a greater liability to IHT than they’d first thought. IHT can cost your estate thousands of pounds when you die; however, the good news is that expert planning can legitimately mitigate this tax, meaning you can pass on assets to your family as you’d intended.
WHAT IS IHT?
IHT is a tax payable on money, savings or any other assets you pass on when you die, and potentially on some gifts you make during your lifetime. The amount payable is calculated after debts and funeral expenses have been deducted.
To read more about Inheritance Tax and how it can help you, please view the guide below.