What assets are taken into account and how much do I pay?
- Your main residence and any other properties you may own.
- Any life assurance policies not written in trust, shares or stocks, savings & investments, businesses & all personal items of any significant value.
- Inheritance tax is currently payable at 40% of the value of the estate over £325,000. (information is based on our understanding of current legislation particularly relating to taxation and may be subject to change in the future).
Do I have to pay it ?
Unless the estate is passing to your spouse or to charity, Inheritance Tax will always be payable on the part of your estate above £325,000. However there are some effective ways to help ensure that your estate remains intact for the benefit of those you intended. Speak to Wright & Lord Financial Services who will review your situation and recommend a specially designed package to help protect what is rightfully yours.