This type of tax is payable on estate assets valued over £325,000 depending on an individual's circumstances. The current inheritance tax rate is 40% and would therefore apply to any assets above the £325,000 threshold. The threshold may be higher if you are leaving property to a direct descendent.
The tax is payable to HMRC by the Executors or personal representatives of an estate within six months of the date of death.
However, there is planning that can be put into place in a person’s lifetime to ensure the inheritance tax on their assets after death is minimised, and in some cases eradicated altogether.
We advise clients on any potential liability to inheritance tax on their death and subsequently what planning could minimise the tax payable during their lifetime.
Please speak to our will advisers at the time of your will appointment if you have concerns about inheritance tax.
Our proactive service is quality driven and tailored to the needs of our clients. We work alongside our clients, helping them achieve their personal and business aspirations & goals.
Our fees are provided on a case by case basis as all clients needs and assets are very different.
Contact Sophie today for a personal quotation.
Florins Pensions & Investments Ltd is authorised and regulated by the Financial Conduct Authority.
Florins Pensions & Investments Ltd is entered on the Financial Services Register https://register.fca.org.uk/ under reference 512554
Licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales
If you wish to register a complaint, please write to or telephone 01507 304222. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at financial-ombudsman.org.uk or by contacting them on 0800 023 4 567. If you cannot settle your Probate complaint with us, you may be entitled to refer it to the Legal Ombudsman at legalombudsman.org.uk or by calling 0300 555 0333.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
