Tax Relief

Inheritance tax relief: Learn how to use the IHT tax relief | Private finance | Funds

If a loved one dies and passes on their property, the beneficiaries must pay 40 percent inheritance tax on any portion of their estate over £ 325,000.

However, this can be avoided with a few clever tricks.

Julia Rosenbloom, tax partner at accounting firm Smith & Williamson, said, “The recent increase in IHT monthly income means that tax is becoming an increasingly important source of income for the Treasury Department.

“One of the main drivers behind the surge will undoubtedly be the announcement in this year’s spring budget that both zero and zero residences will be frozen through at least April 2026, which will result in higher IHT bills for families with more estates due to rising real estate – and stock prices brought into the scope. “

READ MORE: Inheritance Warning: Will-related expenses can cost some of the money

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