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- Inheritance and Capital Gains Tax
- Nil rate band allowance
- Discretionary trusts used to reduce IHT liability
Inheritance tax is a tax that applies to the estate of every person who dies in the UK. It is applied in bands depending upon the size of the estate. The first band is called the Nil Rate Band (“IHT NRB”) allowance because the tax charge is 0%. Any estate which is worth more than the IHT NRB allowance is taxed at 40% on the excess.
Inheritance Tax -
Our free guide explains:
- how the tax is determined;
- how you can reduce any tax liability you may have;
- what allowances are available to reduce your liability;
- the inheritance tax exemptions that are available to set of your liability; and
- the reliefs available.
With careful preplanning and sufficient time it is possible to eradicate a potential tax liability altogether.
The introduction of the Transferable Nil Rate Band allowance in 2007 has made estate planning for married couples significantly easier, in most cases removing the need for the inclusion of discretionary trusts in wills. The guide explains how the Transferable Nil Rate Band Allowance works.
To download your free copy of the guide ‘Inheritance Tax -- And How to Reduce Your
Tax Liability‘ please click on the button below.
How to Reduce Your Inheritance Tax
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