Inheritance Tax is a voluntary tax

DON'T GIVE THE TAXMAN

40%

OF YOUR FAMILY'S INHERITANCE



TAKE MORE CONTROL OF WHERE YOUR INHERITANCE GOES


Current legislation, from 6 April 2007, allows for the first £300,000 of your estate to be passed on free from Inheritance Tax.

However, although this may sound considerable, when you add up the value of your house, savings and investments and your personal effects, you may be very surprised by how much you are actually worth.

With house prices rising as fast as they are, the value of your estate is likely to be a great deal more than the £300,000 Inheritance Tax threshold.

Consequently, the taxman will take 40% of everything you pass on over the current £300,000 limit. See below for an indication as to how much Inheritance Tax you could pay.

    How much Inheritance Tax could your estate pay?

Estate Taxable Amount Inheritance Tax
£300,000 or less £ Nil £ Nil
£325,000 £25,000 £10,000
£350,000 £50,000 £20,000
£400,000 £100,000 £40,000
£450,000 £150,000 £60,000
£500,000 £200,000 £80,000
£600,000 £300,000 £120,000
£700,000 £400,000 £160,000
£800,000 £500,000 £200,000
£900,000 £600,000 £240,000
£1,000,000 £700,000 £280,000

    Write the Taxman out of your Will

Inheritance Tax can create huge bills and vastly reduce what is passed on to your loved ones when you die.

Yet for many of us our liability to Inheritance Tax could be completely avoided by some specialist Will Planning.