Inheritance Tax

Will Storage

On death inheritance tax becomes payable, however the first part of the estate is known as the Nil Rate Band which is currently £325,000. This means that on the first £325,000 of your estate you do not pay inheritance tax (known as IHT). This tax free band will rise in tax year:

Subject to certain other tax saving provisions the rest of the estate is charged at 40%

Most transfers between spouses/partners are exempt from IHT irrespective of value.

Even between couples it is not always the most tax efficient way to leave everything to your spouse/partner.

For tax planning advice on inheritance tax or any other tax matters complete your details below and one of our tax planning associates will contact you.

Proceed to Tax Planning Request Form