Transferable Nil-Rate Band: Saving Inheritance tax!

You may have read or heard of this. A transferable nil-rate band to
Inheritance Tax (TNRB)

Up to a value of £325,000 everyone can leave his/her estate to whom they wish free
of inheritance tax: above £325,000, inheritance tax is paid at 40% on the sum above
£325,000. In other words, above £325,000 and for every £10 you leave, the Government
takes £4 of your money!

If you were married, and you received your late spouse’s estate, it is likely your estate
is now worth more than £325,000: on your death the Government take very £4 of your
money!

If you have children, to whom you wish to leave your estate on your death, it is likely
(you may say) that you must pay inheritance tax?

No, is Alan’s answer; the late spouse’s TNRB to inheritance tax may mean you can leave
100% of your net estate to your children! Your children would then receive £10 of every
£10 you leave them! This is good news!

But do you have all your late spouse’s papers in order to help your children claim the
TNRB on your death! The Government will not help your children claim the TNRB!

Do you want to know more?

Call Alan on 0208 447 4910.