As the name suggest, the Inheritance Tax is payable if a person’s estate is worth more than £325,000 when he or she dies. The person’s estate here refers to money, property and other possessions. There are different thresholds that define the inheritance tax. The rate of inheritance is 40% on anything that is above the threshold. However, this rate may be reduced to 36% if 10% or more of the estate has been left to charity.
Again calculation of the inheritance tax requires assessment of the possessions of the deceased in the correct manner to arrive at the correct tax figure. There are certain exceptions and allowances that need to be considered when calculating the inheritance tax. It is therefore an ideal choice to choose experts to handle the tax matters.
Rayvat Accounting provides unmatched tax calculation and filing services to its UK clients. Clients can use the Accounting Services of Rayvat for hassle-free calculation and filing of the inheritance tax.
Contact to us for any requirements of Inheritance Tax.