Inheritance Tax Planning Advice
Inheritance Tax (IHT) is usually payable when an individual’s Estate is worth more than £325,000 when they die.
Everything owned by a person who has died is known as their estate. The estate may be made up of:
- Cash in hand and money in a bank or building society account. This could include money paid out on a life insurance policy
- Receivable by the person who has died
- Private or Public company Shares
- Estate or Property, for example, their home
- Car or Jewellery or any other personal possessions
The standard Inheritance Tax rate is 40%. It is only charged on the part of your estate that is above the tax-free threshold.
There are different rules when you pass on your home or you give your assets to your spouse / Civil Partner.
The Probate or Grant of representation will not usually be issued until the Inheritance Tax (IHT) has been paid to HMRC.
Inheritance Tax (IHT) is paid from the estate of the deceased.
Doshi Accountants specialises in comprehensive Inheritance Tax planning, offering expert advice and guidance to optimise your financial legacy. Our seasoned Inheritance Tax advisor provide tailored solutions, ensuring strategic planning to minimise tax liabilities. Trust our dedicated Inheritance Tax specialist to navigate the complexities, offering insightful advice and bespoke planning strategies. At Doshi Accountants, we prioritise your financial well-being, providing proactive Inheritance Tax planning advice that aligns with your unique circumstances. Secure your family's future with our expert guidance, backed by a team of professionals committed to ensuring your financial success and peace of mind.