Donate SIGN UP

Iht

Avatar Image
kanwal3017 | 14:58 Wed 29th Mar 2023 | Business & Finance
5 Answers
The estate is estimated at 625000
  
Gravatar

Answers

1 to 5 of 5rss feed

Best Answer

No best answer has yet been selected by kanwal3017. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
do you ever read your answers? Didnt chris answer this very question on your january thread on the same matter?
https://www.theanswerbank.co.uk/Business-and-Finance/Question1824330.html - in case you didnt read chris' answer the first time.
Also, it will depend on the value of the estate when he dies, not now
If the deceased had a spouse (or civil partner) who died before him/her, and leaving everything to them, the IHT allowance will be TWO lots of £325k (= £650k), meaning that there's no IHT to be paid at all.

Otherwise the allowance is just ONE lot of £325k, meaning that IHT will need to be paid on the excess £300k. That amount, at the current rate of 40%, is £120k.
You also didn't need to make another thread to answer a query in your previous one. It gets too confusing.
Didn't you say in an earlier post that the property, the house, had been left to both you and your brother?

1 to 5 of 5rss feed

Do you know the answer?

Iht

Answer Question >>