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Topic: Inheritance Tax


  • Leanne Hathaway - Tax and Trusts
    Inheritance Tax – Do I need to pay this?
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    Not everybody has to pay Inheritance Tax. Inheritance Tax is due when a person’s possessions and property, also known as their estate is worth over £325,000 when they die.  This is the ‘Inheritance Tax threshold’.   The rate of Inheritance Tax is 40% on anything that is above the threshold. If more than 10% is… Learn more

  • Leanne Hathaway - Tax and Trusts
    Inheritance Tax: Restrictions on offsetting debts
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    There was no consultation on this, but one announcement tucked away amongst the HMRC papers was a seemingly minor overview as to how certain debts will no longer be deductible for inheritance tax purposes after the Finance Bill receives Royal Assent. Per HMRC: “Legislation will be introduced in Finance Bill 2013 to amend the inheritance… Learn more

  • Leanne Hathaway - Tax and Trusts
    George Osborne set announce changes to Inheritance Tax thresholds
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    After a weekend of media speculation about the inheritance tax thresholds, it has been widely reported this morning that George Osborne, the Chancellor, will announce that the level at which inheritance tax becomes payable will be frozen at £325,000 until at least 2019 to fund reform of the social care system. This contradicts previous pledges… Learn more

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