Key Information About Inheritance Tax
Here are some important Key Information about Inheritance Tax
To summarise:
- The current rate of inheritance tax is 40%
- The rate of IHT can be reduced by 4% if at least 10% of estate is left to charity
- Payment is due no later than 6 months after the month of death
- £3.8 billion was the total amount of tax receipts in 2014-15. Moreover, it is set to rise to £5.6 billion by 2021
- In 2011/12, the average inheritance tax bill was just under £166,000
- 14% receipts from inheritance tax (HT) are expected to rise by almost 14 per cent in 2016
So, if you would like to talk with one of our independent financial advisers for further information and help regarding Inheritance Tax
Contact us at our Brighton Hove office on 01273 208813 or email [email protected]
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