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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4351
Experience:  FCCA FCMA CGMA ACIS
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I need some help with an inheritance tax question and I would

Customer Question

I need some help with an inheritance tax question and I would like someone to call me today if possible
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.
Easy way is to tell me what your problem is. In general terms Inheritance Tax (IT) kicks in if an estate exceeds 325K on death, but that is inflated by spouse and charitable etc bequests. IT is levied at 40%, flat rate. There is no Capital Gains Tax on death, all assets being rolled up into the deceased's estate.