× Home

Top Authors Top Articles Why Submit Articles? FAQ

Login Register Forgot password?

Lashmars' simple guide to inheritance tax

By:   |   Jul 08, 2018   |   Views: 9   |   Comments: 0

Inheritance tax is sometimes referred to as death duty and is the sum payable to the government from a person's estate depending on its size.

The estate is all of the deceased's assets and includes their house, possessions, savings, investments and anything that may be owed to them by other parties.

Inheritance tax is typically paid by the executor or personal representative of the deceased's estate before the beneficiaries of that estate get hold of what has been left to them.

Inheritance tax is also chargeable on property that is transferred in the seven years prior to death.

If a person makes a substantial gift and dies within seven years of making that gift, then inheritance tax will be due on that disposition.

These rules have led to many older people transferring substantial amounts of money and property to their children and grand children during their life in a bid to prevent inheritance tax being levied. google_ad_channel = "7940249670, " + AB_cat_channel + AB_unit_channel; google_language = "en"; google_ad_region = 'test';

Was this helpful?
Thank you!

More from Alice Mitchell

The Best Product for Dark Circles Under Eyes Attack Three Problems

What if I told you the best product for dark circles under eyes, bags, and wrink...

By: Alice Mitchelll Uncategorizedl Jul 08, 2018 lViews: 51 lComments: 0

The Best Natural Skincare Comes Via Science

I was astounded to find out how much study goes into dermatological products on...

By: Alice Mitchelll Uncategorizedl Jul 08, 2018 lViews: 49 lComments: 0

The Best Firming And Wrinkle Treatment For The Skin


By: Alice Mitchelll Uncategorizedl Jul 08, 2018 lViews: 49 lComments: 0
Add new Comment

* Required fields