INHERITANCE TAX

If you are single, if you had an accident and died, any value of your home and possessions over £325,000 would be taxed at 40%. For a married couple they each receive this £325,000 so there is a total of £650,000 protected from the 40% Inheritance Tax. If you have a lot more than you need, you may wish to look at gifting some of your money away year by year in order to reduce the eventual Inheritance Tax. If you are in that category, we would be happy to discuss the various strategies that are open to you.