Inheritance Tax On Death

Inheritance Tax Solicitors In Canterbury

Inheritance tax (IHT) is charged on your death at the rate of 40% based on the value of your assets. This 40% rate is only charged on any value in excess of the nil rate band. The nil rate band  (£325,000 in the tax year 2017-2018) is the amount which is chargeable to IHT at the rate of 0%.

From 6th April 2017 the Residence Nil Rate Band now also applies, so that less IHT may be paid when the family home is left to direct descendants such as children, grandchildren and some other individuals.

Our role is to undertake a complete review of your estate and personal circumstances and to advise you on the best way to plan your estate to mitigate any Inheritance Tax liability.

Whilst you may not wish to pay any unnecessary Inheritance Tax, there are also often important practical considerations to take into account, such as your personal financial security during your lifetime, or, perhaps, an additional desire to safeguard your assets from care fees.

It is possible that your various concerns have different estate planning applications.  Our comprehensive approach enables us to advise you on the best way to achieve an acceptable balance which you feel meets your overall needs and wishes.

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