Shaws Wills and Trusts

Member: Institute of Professional Will Writers
Member: Surrey Law Society
Affiliate: Society of Trusts & Estate Practitioners

53 Furze Hill Road
Headley Down
Hampshire
GU35 8HA

tel: 01428 712856

email: susan@shawswills.com

Inheritance Tax

Inheritance tax is levied at 40% on the value of all your property, except the first Nil Rate Band, and some exempt gifts.

• The Nil Rate band (NRB) is £325,000.

• In the case of married couples, on the second death two NRBs are available unless they have been used or partially used by lifetime gifts within 7 years of death.

• Life time gifts are exempt if made more than 7 years before death.

• Some small gifts are exempt.

• Your Nil Rate Band can be given to a trust every seven years and the total sum is exempt from Inheritance tax. You must not benefit from such trusts.

• Trusts can hold life assurance and pension death benefits.

Avoid paying unnecessary Inheritance Tax - Contact us now.