Inheritance Tax Allowance

Published / Last Updated on 03/12/2013

Sadly upon death your estate might be taxable. The highest rate for inheritance tax due is 40%.The government do allow some concessions. The inheritance tax nil rate band is currently £325,000 in 2013.This means if your estate amounts to below £325,000 it may be tax exempt.If you gift assets away to family members and you die within 7 years of those gifts then they can also be taken into account as part of your estate.

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