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ukfamilysolicitor
ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 1185
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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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.
Hello
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
Caroline
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