In April 2010, the Crown Prosecution Service (CPS) joined forces with the Revenue and Customs Prosec...
Inheritance Tax is levied on the possessions, money and property of a person who has died. Should the value of the estate come below the threshold value of £325,000 or should the deceased person leave everything to their spouse, civil partner, a charity, or community amateur sports club, there will be no tax payable. In the case where the deceased person’s property is given to their children or grandchildren, (including any step-children, foster children or adopted children) the threshold value rises to £425,000. In the case of couples with an estate worth less than the threshold who are married or who have a civil partnership, any unused threshold amount is added to their partner’s threshold upon their death, increasing their threshold up to a total of £850,000. Inheritance Tax laws can be complex, so it is recommended to consult our experienced professional Tax Accountant for help and advice.
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