Savings, Money, Finance, Specialist

Inheritance Tax Advice

New Investment Finder introduces Inheritance tax or IHT refund information.

New Government Inheritance tax threshold for married couples including civil partnerships. Those whose estate’s are valued under £600,000 on death will benefit for IHT exemption and rise or 100% over the previous £300,000 limit. This change takes immediate effect.

It is advised that those widows or family who have been caught out with the lower threshold in the past will be able to claim relief up to the new level.
The Government has confirmed that this change will be retrospective.

This could open the flood gates to claims from those who had inherited money from their parents in the past and who had to make a payment to the treasury.
It is estimated that a couple whose estate was worth £600,000 in 2006 would have had a liability of £80,000. This amount can now be reclaimed.

About 2.4m properties across the country are worth between £300,000 and £600,000 will fall out of the inheritance tax (IHT) net after the announcement, saving some people up to £80,000 in death duties but costing the Treasury at leased £1bn in lost revenue. this amount of course could be much much larger depending on the numbers comming forward.

If you need help with any refund request we shall be happy to assist.
Give us a call.