Reduce Inheritance Tax.
Three good reasons to reduce Inheritance Tax:
• 70% of people die without making a Will
• 82% of life policies are not in trust
• £3.6bn paid in Inheritance Tax in 2006/07
Inheritance Tax is payable at 40% of the value of an estate over the nil rate band(s). For a couple with an estate valued at £800,000 this could result in an Inheritance Tax bill of £70,400. For a couple with an estate valued at £2,000,000 this could result in an Inheritance Tax bill of £550,400. Getting good advice & effective financial planning could help significantly reduce the Inheritance Tax payable.
For the Tax Year 2008/09 the following exemptions for Inheritance Tax apply to every individual:
|
Pre-Budget Report 9 October 2007
As a result of the change made in this announcement a married couple, or civil partnership, can carry forward any unused Inheritance Tax nil-rate band on the first death for use on the death of the surviving spouse / civil partner.
|
 |
©2007 UKIHT.COM - Reduce Inheritance Tax |
||
|
||
