Widowed
If you are widowed
For the 2008/2009 tax year, as a widow your Nil-Rate Band is £624,000 (comprising of £312,000 personal allowance and £312,000 from your deceased partner) and any part of your estate over this amount could be taxed at 40% This figure assumes that no previous gifts were made by the deceased spouse as this can have an effect on the Nil-Rate Band passed to the surviving spouse.
The table below illustrates how much IHT you could pay as a widow.
|
Estate Value |
Taxable |
IHT Payable at 40% |
|
£624,000 or less |
£0 |
£0 |
|
£724,000 |
£100,000 |
£40,000 |
|
£824,000 |
£200,000 |
£80,000 |
|
£924,000 |
£300,000 |
£120,000 |
|
£1,024,000 |
£400,000 |
£160,000 |
Use our IHT calculator to see how much your potential liability will be.
Now that you have calculated if you have a IHT liability now, or in the future, find out what solutions there are available to help you reduce or possibly eliminate this unneccesary tax:
- What is IHT?
- How liable are you? Use our IHT calculator
- IHT Mitigation solutions - how to reduce or eliminate IHT
How Liable Are You - use our calucuator to find out?
Our simple guide will help you find out how Skipton Financial Services could help you to reduce or even eliminate this unnessary tax.
To find out more about any of
the services we’ve mentioned
simply:
- Contact your SFS Financial Adviser
- Call a member of our Client
Help Line on 0800 137 832 - Visit your local Skipton
Building Society branch to
arrange an appointment with
an SFS Adviser
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