Inheritance

 

Inheritance Tax (IHT) is a tax that many people don't consider or presume that it is something that only the rich and the elderly should be concerned about. However this is certainly not the case.

The starting point at which you begin to pay IHT is £325,000 if you are single or divorced or £650,000 if you are married, in a civil partnership or widowed. These amounts are referred to as the nil rate band.

 

Everything in your estate over and above your nil-rate band, including the value of your house, savings, investments and assets is subject to 40% tax when you die. That's 40p out of every pound you own - or £400 out of every £1,000!

 

This may sound a lot, but by simply adding up the value of your house, savings, investments and any other assets you may be surprised how much you and your estate are actually worth.

 

With the dramatic increase in house prices and investments over the last few decades, the value of your estate could have increased substantially, although you may not have considered your IHT liability.

 

© Brown Butler Pensions & Investments 2017

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Call: 0113 246 1234

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If you wish to register a complaint, please write to Gary Rawnsley at Brown Butler Pensions and Investments Ltd or telephone 0113 2461234

Please be assured we treat complaints seriously. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.

Brown Butler Pension and Investment (BBPI) are appointed representatives of Cowling Rawnsley Financial Solutions who are Authorised and Regulated by the Financial Conduct Authority (FCA registration number 232052). BBPI registered address; Leigh House, 28-32 St Pauls Street, Leeds, LS1 2JT. This website does not constitute a solicitation to anyone in any jurisdiction in which such solicitation is not authorised, nor to any person to whom is it unlawful to make such a solicitation.