What happens if you do not do anything about your IHT liability?

Do not be subjected to 40% IHT if it can be avoided.

In the most simple terms, if your estate is worth more than £325,000 if you are single or divorced or £650,000 if you are married, in a Civil Partnership or Widowed then anything over and above this amount could be subject to 40% tax.

Upon your death, if you are liable for tax your loved ones are usually required to pay the bill within six months of your death - and only when the tax has been paid will your estate be granted probate where your assets can be distributed how you wished (providing you made a Will - see Legal Services). There may be some exceptions to this, but all with certain terms and conditions, and one of our advisers will be able to discuss this in more detail with you.

This section is broken down into three parts and illustrates how you may be affected by IHT depending on your individual circumstances - whether you are single, are married / in a civil partnership or widowed:

The first step to see if your estate will be affected by IHT is to calculate how much it is actually worth - you may be quite surprised!

Use our calculator to find out - but don’t forget that this is not a static figure and that your property and investments could increase in value over the next few years which, in turn, could increase your IHT liability.

 

If you would like us to call you, just click here.

Alternatively call:
0800 137 832

How Liable Are You - use our calculator 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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