In the 2021-22 financial year, taxpayers paid £700 million or 13% more IHT than in the previous year. A staggering increase, which was largely driven by rapidly increasing UK property prices and not helped by the recent freezing of the IHT thresholds until 2026. It’s these factors that make more and more families see the…
Read more
Inheritance tax (IHT) is paid on what you leave behind to your heirs, who could pay as much as 40% tax on what they inherit. Estimate the value of your estate and how much inheritance tax may be due on your estate when you die with our IHT calculator below. Related: What is an estate…
Read more
Inheritance Tax (IHT) is a tax paid on the estate of a deceased person. It has to be paid by the inheritors before they can access the assets. More and more estates in the United Kingdom meet the inheritance tax (IHT) threshold of £325,000, mainly due to rising property prices in the country. This makes…
Read more
Most people know that private pensions are highly tax-efficient and are a useful way to save for retirement. Notwithstanding that, the inheritance tax advantages are as much, if not more attractive, given that your pension fund falls outside your estate for IHT purposes. That means pensions can be a great way to pass money on…
Read more
The majority of people’s estate value comes from the property they own. This might be their primary home, a buy-to-let investment property or a holiday home outside of the UK and which is included in your estate. Unless you’ve already done something about it, you will pay 40% Inheritance Tax (IHT) on your overall estate…
Read more
IHT – Inheritance Tax is probably one of the most hated taxes in the United Kingdom. It is sometimes referred to as a tax on items that have already been taxed, a tax on success and death duties. However, it’s not all doom and gloom as with a little knowledge and preparation, IHT can be…
Read more
With the ever-changing rules surrounding inheritance tax, you may feel confused as to how you can actually prepare for what some people call the ‘death tax.’ With news such as Chancellor’s Rishi Sunak plans to increase inheritance tax to offset the cost of the Covid-19 pandemic on the UK’s economy, combined with rising UK house…
Read more
A short answer to the question “Do I have to pay inheritance tax on my parent’s property” is yes. You have to pay inheritance tax in the UK for your parent’s house, and families often question why they have to pay taxes on property and estate that is theirs. During a lifetime, one will pay…
Read more
Double Taxation Agreements (DTAs) serve as ruling instruments in the realm of international tax law, designed to prevent the same income from being taxed by two different jurisdictions. For retirees and expatriates, DTAs offer significant tax relief, ensuring that individual retirement income is not eroded by excessive taxation. This article delves into the essence of…
Read more
Navigating UK Property Taxes: A Definitive Guide for International Investors For international investors, the pursuit of property in the UK can be both alluring and complex. The UK housing market has long been a beacon of stability, and its capital city, London, has historically been a global magnet for investment. However, the landscape of UK…
Read more
