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Inheritance Tax – What is your Current Allowance?

Inheritance Tax – What is your Current Allowance?

The current inheritance tax (IHT) allowance whereby no inheritance tax is charged is on the first £325,000 (per person) of someone’s estate – which is the value of the total assets they leave behind when they die (or 36% if leaving at least 10% to a charity). Couples can leave a home worth £650,000 without it attracting inheritance tax (singles £325,000). Above the threshold, the charge is 40%. This remains unchanged.

We Are STEP Approved!

We Are STEP Approved!

When you instruct JT AccountS to work on your Wills, Trust and Estate Administration, it means you can be confident that we possess the specialist knowledge and skills required to carry out your wishes. You can be assured that you will be in expert hands and we are taking all the necessary actions to plan for the future of your assets.