Probate & Wills / October 26th 2017

How Do I Calculate Inheritance Tax on an Estate?

Inheritance tax (IHT) is a tax which can be payable during an individual’s lifetime, but more commonly when someone dies. The tax imposes a charge at a rate of 20%, 36% or 40% on the value of a gift or on a whole estate, depending on the circumstances. However, the calculation is complex with many rules and reliefs. The below gives a basic guide to inheritance tax and the method of calculatio…

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