Inheritance Tax Advice

If you are looking for inheritance tax advice, then you can fill out our online enquiry form to be put in touch with expert financial consultants who are currently offering a free first consultation with no obligations.  They can help you to understand inheritance tax and make the necessary preparations to deal with it if you are worried that there may be tax to pay on your estate after you pass away.

When it comes to inheritance tax advice, consider the following:

  • Housing prices are rising at a greater rate than the nil-rate band for inheritance tax, so that more and more homeowners are finding their estates large enough for inheritance tax to apply.
  • The current nil-rate band is £312,000 – estate value in excess of this amount is subject to a 40% tax rate.
  • Gifts made in the last seven years preceding death may be subject to inheritance tax, as potentially exempt transfers (PETs).
  • There are many exemptions from inheritance tax, such as for wedding gifts and annual gift amounts.  These can be used to reduce the total value of an estate that may be subject to inheritance tax
  • Spousal exemption allows for a spouse or civil partner to inherit an estate without paying inheritance tax.
  • Political party and charity donations are exempt from inheritance tax.

Disclaimer: Every effort is made to keep the site accurate, however please bear in mind that tax rates are subject to change. If you require tax advice you should speak to a professional tax adviser.