How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask ukfamilysolicitor Your Own Question
ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 834
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
Type Your Law Question Here...
ukfamilysolicitor is online now

If I leave an estate of £350,000, how much is liable

Resolved Question:

\\\\\\\\\\\\If I leave an estate of £350,000, how much is liable for inheritance tax?
Submitted: 1 year ago.
Category: Law
Expert:  ukfamilysolicitor replied 1 year ago.
Welcome to Just Answer
I can confirm that Inheritance Tax is currently on estates worth more than £325,000.00.
The rate payable is 40% of anything above £325k
If you therefore left an estate valued at £350k then tax would be paid of the £25k above the threshold.
The amount of Inheritance Tax to be paid from the estate would be £10k
Kind Regards
If you have found this service useful please do kindly remember to rate positively so that we receive credit for our work
ukfamilysolicitor and 6 other Law Specialists are ready to help you