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Estates valued over £275,000 (Nil Rate Band in 2005
/ 06) at the date of death will be taxed at 40%. An Estate
with a value of £500,000 will attract tax of £90,000.
This is an increasing p rob lem here in the South East,
with house prices having risen dramatically and the Inheritance
Tax (IHT) Nil Rate Band only rising by inflation. Calls on
the Chancellor of the Exchequer to significantly increase
the Nil Rate Band have so far fallen on deaf ears.
There are however a number of ways to reduce the potential
IHT bill, and it is important to assess which is the best
way for you.
We have produced a separate Fact File leaflet on Inheritance
tax which can be found by clicking
here.
Please do get in contact to allow us to provide you with
advice as to how you might mitigate your liabilities.
For further information, please click
here to view our fact-file on Inheritance Tax.
We have included in our section 'Fact-files',
many downloadable fact sheets on numerous financial planning
topics. We suggest that once you have had an initial browse,
you go to this page and see if there are any Fact-Files pertinent
to your situation. Please then feel free to download these items
free of charge.
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