Inheritance Tax is a tax charged on the estate (usually comprising properties, money and possessions) of someone who has died.
There's normally no Inheritance Tax to pay if either:
- the value of your estate is below the £325,000 threshold, or
- you leave everything above the £325,000 threshold to your spouse, civil partner, a charity or a community amateur sports club.
The standard Inheritance Tax rate of 40% is charged on the part of your estate that's above the annual threshold. People you give gifts to might have to pay Inheritance Tax, but only if you give away more than £325,000 and die within 7 years (GOV.UK, n.d.).
Complete the Order Form below for us to work out the inheritance tax due on an estate, for payment by the excutor or administrator.