Inheritance Tax (IHT)

With the upsurge in property prices in the last decade more and more people are falling into the IHT bracket. Currently everyone is able to leave £325,000 completely Tax free anything above that is subject to 40% Tax. If you are married then the total IHT allowance is £650,000 with any unused allowance being transferred to the remaining spouse after death.

Sound financial planning combined with an effective will can legally reduce or avoid Inheritance Tax altogether. Therefore it is essential that you get good financial advice from experts in Estate Planning to help reduce your exposure.