Inheritance Tax ( I.H.T.) Saving Wills:

Rising house prices are pushing many people into the inheritance tax bracket. This could mean paying a huge 40% tax. 

Putting Inheritance Tax Saving Wills in place allows married couples and those who have entered into a Registered Civil Partnership to effectively double the “nil rate band” allowance. This means that the surviving partner can still get access to the deceased partners estate whilst not increasing their own estate value for I.H.T. purposes. Civil Partnerships can also double the “nil rate band” currently set at £300,000 as it allows them to utilise both person’s “nil rate band” allowance.

In the tax year 2007/2008 a total of £600,000 of assets can be left as an inheritance without any tax being due.