Inheritance Tax is charged at 40% on all your assets over and above the relevant threshold, and can include things like property, possessions, insurance policies and investments. You should also be aware that an estate’s value for Inheritance Tax purposes can include the deceased’s interest in trust property, and gifts that the deceased may have made during the last seven years of their lifetime.
Inheritance Tax can be a burden for many estates on death. It may be possible to reduce this burden with appropriate planning. We can advise you on its implications and how it may affect you and your estate.