Inheritance Tax
…don’t let your family be one of them. Act now.
Read how proposed changes to inheritance tax rules could affect you and your family
Losing a loved one is never easy. The last thing anyone wants, at that time, is to sort through complex financial affairs and pay costly fees. But this is the reality more and more bereaved families are unwittingly facing. Simply because they’re not prepared. Adding to this, the Labour leader Jeremy Corbyn has recently suggested possible plans to change inheritance tax rules, to reduce the amount that can be inherited tax-free. Should his party win the next election, this could affect many more hard-working families all over Britain. Do you have an inheritance tax liability? Thanks to rising house prices, it isn’t just the very wealthy who have to pay inheritance tax. If, when you pass away, your estate value is more than the inheritance tax nil rate band, anything above this is taxed at 40 per cent. Your estate isn’t just your home. It also includes your car, savings and investments – even your jewellery and household furniture. Most likely, it would fall upon your loved ones to foot the bill – which can often equate to thousands of pounds. Don’t leave your family’s future to chance. Many argue that inheritance tax is an unfair levy. But by taking the right steps now, you could reduce your potential liability – and make a positive difference to your family’s future. To help you, Mail Finance has teamed up with Skipton Building Society, who offer clear, honest financial advice. With over 30 years’ experience in inheritance tax planning, Skipton can find out if you could be liable – and help you address your potential liability. In a way that’s right for you. The aim of inheritance tax planning is to help you address your liability. However, some solutions may put your capital at risk, so you may get back less than you originally invested. Some areas of inheritance tax planning aren’t regulated by the Financial Conduct Authority. Thresholds depend on your circumstances and prevailing legislation. Both may change in the future.