It is the nation's least favourite tax - and yet not many people pay it paullewismoney shares sone useful rules to stop inheritance tax being taken ⤵️
It is the nation’s least favourite tax – and yet not many people pay itThe Prime Minister is pondering a cut in inheritance tax as a pre-election bribe, reports the American news agency Bloomberg. It is a strange bribe that simply lets us keep more of our own money! But that is politics! And especially odd because, contrary to popular belief, only about one in seventeen of us will benefit from it.
Inheritance tax may be due if you leave property, money, and valuables worth a total of over £325,000. Every pound above that is taxed at 40 per cent before the rest is transferred to the heirs. But – and it is a very big but – there are lots of useful rules to stop that tax being taken.Anything and everything you leave to your spouse or civil partner is completely and absolutely free of inheritance tax. Even if it is £100m.
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