What is Inheritance Tax ?
Inheritance Tax (IHT) is a tax on the estate of someone who has died, including all property, possessions and money. Even if there’ is no Inheritance Tax to pay, you’ll still need to report it to HMRC.
IHT is payable at a flat rate of 40% on all of your Estate above your person allowance, and we can show you how much you may be liable for to HMRC without thoughtful planning.
This is where we can help. If you are concerned about the amount of tax your family may have to pay on anything they inherit after your death, you can choose to make decisions that benefit your loved ones during your lifetime instead. At Maplebrook Wills. as Legacy Planners we can show you several different ways of doing this and we are able to provide information about all of your options. Talk to us today about how we can help you.