Inheritance tax advice
In October 2007 Chancellor Alistair Darling announced that he was doubling the value of assets which couples can leave behind when they die without incurring inheritance tax. The current threshold for 2008/9, for married couples and civil partnerships, is a combined £624,000. In future years both house prices and inflation will be taken in to account when setting the threshold at which IHT begins.
It's important to realise that your estate does not just include cash assets such as savings and investments, but also includes:
It's important to realise that your estate does not just include cash assets such as savings and investments, but also includes:
- property
- house contents
- car
- life assurance
- other possessions
Useful link:
HM Revenue and Customs
Information on tax and national insurance. Obtain information on tax credits, benefits etc
http://www.hmrc.gov.uk/
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