What is IHT?

With house prices still slowly climbing, it is not just the super-rich that are affected by Inheritance Tax (IHT).

Anyone whose home orestate is worth more than £300,000 is likely to be affected by Inheritance Tax. 

Amongst other things your ‘estate’ will include:

• Your property
• Your car
• Your savings
• Your furniture
• Gifts you make before you die

If all of those things add up to more than £300,000, your inheritance will be taxed at a rate of up to 40%. That’s £400 of every £1,000 you leave behind for your loved ones that goes to the Taxman!

Chenery Maher Solicitors can help reduce your Inheritance Tax (IHT) liability, if not avoid it all together, by helping you to consider options such as:-

• Small gifts
• Annual exemptions
• Marriage gifts
• Potentially Exempt Transfers (PETs)
• Investing in trusts
• Using the nil rate allowance
• Using life policies
• Making a will
• Giving to charity