What about Inheritance Tax?

If the value of your estate is more than £325,000 after payment of your debts and any gifts to charity, Inheritance Tax (IHT) may be payable at 40% on the value over this amount.  For married couples or couples in a Civil Partnership the tax exemption could possibly be doubled to £650,000.  Further to this tax-free allowance, from April 2017 a new allowance on the home has been introduced, starting from £100,000, the rules of which are far too complicated to summarise within this FAQ.  We can advise you on ways of reducing or removing the impact of Inheritance Tax.  For more information see the sections under the Inheritance Tax menu.

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