There is a widespread lack of understanding regarding inheritance tax. Put simply, the first £325,000 falls under the ‘nil rate’ band, so there would be nothing to pay. Thereafter, the Treasury takes 40% of the estate! The position has been changed recently so that, in many cases, for example, a surviving spouse, will automatically be able to utilise the unused portion of the deceased spouse’s nil rate band.
How do I avoid Inheritance Tax? |
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