Who Pays Your Inheritance Tax?
Death is a taboo subject, like sex and using the toilet not openly talked about.
Death triggers one of HMRC’s easiest tax earners, Inheritance Tax (IHT) together with Stamp Duty Land tax is cash the government gets for doing very little. Who pays your IHT bill, definitely not you that’s for sure.
Yes. You got it in one, your family that’s who pays.
You may think you can start planning tomorrow, with the old saying “tomorrow never comes” to sort out who you want to get what, the cash, UK homes and overseas, prized possessions even family heir looms. Not having expert advice, HMRC becomes an estranged child and would have a seat at your estate table claiming 40% of your net estate.
It is never too late to start planning to give your wealth to those you feel fitting, £325,000 every 7 years, not a bad amount when you think about it. Don’t let HMRC have the lion share of your hard earned wealth by not planning, and have the choice of where your money goes.
Call 020 8123 4057 or complete an enquiry form, today and find out how you can give your family, friends or pets your wealth so HMRC don’t get their hands on most of it.