Accounting News & Insights
Latest Tax blog: Ways to reduce your IHT liability
11th February 2013
“The only two certainties in life are death and taxes” – Benjamin Franklin
Inheritance Tax (IHT) is usually payable on an Estate in the event of someone’s death. The current IHT threshold, also known as the 'Nil rate band', stands at £325,000. If your overall Estate is above this level, any excess amount will be taxed at 40% (although there are some exceptions in respect of charities etc)...