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 Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7248
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

Inheritance tax

Customer Question

Inheritance tax
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Juat Answer, and pleased to be able to help you with your question.

UK Inheritance Tax (IHT) kicks in at 325K and is at a 40% flat rate. The 325K is inflated by any inter spousal or charitable bequests and if the latter are 10% of more of the deceased's estate the rate of tax falls to 36%.

The 325K limit will progressively rise from 2017 to 2020 to one million, but only for the family home bequeathed to children.

That is about as far as I can go without more information from you.

Related Tax Questions