The law allows you to leave an estate worth up to £285,000
(as from April 2006) without having to pay any Inheritance Tax upon
it. This £285,000 is called the 'Nil Rate Band'. After the
first £285,000, or the Nil Rate Band, the remainder of your
estate will be charged 40% Inheritance Tax.
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How to limit
your Inheritance Tax bill: |
If the two sure things
in this life are death and taxes then Inheritance Tax is impossible
to avoid. Or is it?
[Read More...] |
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How recent
legislation affects you: |
In an article in
the Financial Times, Isabel Berwick explained how some
tax avoidance schemes have been affected by recent legislation.
[Read More...] |
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Nil Rate Band
planning: |
It is important to
understand that the Government is only targeting 'Lifetime tax planning'
but is not questionning the right to pass on a tax-free sum on death.
[Read More...] |
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| Loan Trust Will |
| The first spouse to die gives £285,000
(or prevailing Nil Rate Band) to a loan trust which then lends on
the assets to the survivor. [Read
More...] |
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