Inheritance Tax Archives

Inheritance Tax: The basics you need to know about the “death tax”

by admin | Jul 30, 2024 | Advice Hub, Inheritance Tax

Often dubbed “death tax” or “Britain’s most-hated tax” in the media, Inheritance Tax (IHT) may seem complex, and you might be unsure if it’s something you should consider as part of your estate plan. Over the next few months, you can read about the essentials you need...

Agricultural Relief

by admin | Nov 1, 2022 | Education, Inheritance Tax

What is deemed to be Agricultural Property? You can pass on some agricultural property free of Inheritance Tax, either during your lifetime or as part of your will. Agricultural property that qualifies for Agricultural Relief is land or pasture that is used to grow...

What is Inheritance Tax?

by admin | Mar 4, 2022 | Education, Inheritance Tax, Investments, Protection, Retirement, Savings

Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. How much is Inheritance Tax? There is normally no tax to be paid if: $ The value of your estate is below the Nil-Rate Band of £325,000, or $ You leave everything above...

What is Business Property Relief?

by admin | Mar 4, 2022 | Education, Inheritance Tax, Investments, Savings

Business Property Relief was introduced by the government in 1976. Back then, its main aim was to ensure that after the death of the owner, a family business could survive, without having to be sold or broken up to pay an inheritance tax liability. Since then,...

What is the Residence Nil-Rate Band?

by admin | Mar 4, 2022 | Education, Inheritance Tax

Residence Nil-Rate Band The residence nil-rate band is in addition to the standard nil-rate band, which is £325,000. The residence nil-rate band is £175,000. These are, however, the maximum amounts available per individual. The residence nil-rate band will be reduced...