How Much Does Inheritance Tax Cost and What Are The Exemptions?

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Information How Much Does Inheritance Tax Cost and What Are The Exemptions?

Title	:	How Much Does Inheritance Tax Cost and What Are The Exemptions?
Lasting	:	14.43
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Comment from : UK Property Tax Accountants

So you literal speak is not to own property in UK
Comment from : Lawrence Heung

Explaining this all to mum mum has taken over 2 years since his death Her generation aren’t educated well on this stuff and its been a painful experience I hate the UK tax system, its so regressive But this was a wonderful video that she understood a little better Thank you
Comment from : A Rispoli

Who and how is the property valued for IHT purposes? What if you don’t agree with the valuation?
Comment from : Cover Upper

Its criminal it just is
Comment from : hi

Am I the only one who think 40 is a ridiculous amount I think it should 20-25 at most
Comment from : Tiffany

Can I ask please if assets within a property of 270k get passed within intestacy to a spouse (note, no will) does this negate the 270 of the 325k nrb that could be passed on? For example in this situation would the second partner be able to pass both nrb allowances on £650k if no will was made? Also would the RNRB allowance be available from the first partner if left through intestacy? Thank you so much for your help
Comment from : Koh Time

So basically, it's theft
Comment from : SubjectRandom

Free IHT Calculator: br wwwoptimiseaccountantscouk/inheritance-tax-calculator/
Comment from : UK Property Tax Accountants

Thank for this very insightful vlog My dad passed away in February and has left the property to my mum in his will I've read about an extra allowance of £175,00 on top of the threshold of £325,000 But unsure as to which form I would need to complete on the HMRC website Can you please advise? Many thanks!
Comment from : Anna Wong

Hello if a parent wanted to transfer the title of their property to their children whilst alive would this count as a gift? Would there be a sales transaction? Would they have to pay the 30day tax that you mentioned in the video?
Comment from : Steph Rfin

Is it possible to simply add all your children onto your house deeds? Or put all your assets into a trust naming all your family as members
Comment from : Tyrone France

As an only child who is also carer and POA and living in the same household for 20 years, her will favours myself, 100 Currently the property is worth in the region of £900,000 plus other savings and shares Can you briefly tell me my position with regards to the tax relief, as this is my sole residence Would I have to sell the house to pay any IHT? Thank you in anticipation
Comment from : Kaieteur John

I enjoy the channel, wondered if you could help - brWhat advice for an only child looking to inherit who just learned that farther died one year ago?brA search agency has informed of father's death, he had always wanted to be in the life of the son but the feeling was not mutual He died without having ever been married and so by rights the son should be the sole heir - unless he did something crazy like left the money to a neighbour But over the last year he has not been contacted by the will executor For all the son knows he is the executor but hasn't been contacted about that either Where does he go from here? He knows the date of death and the town, does not know an address however or have contact details for any of the father's siblings or family members How does he track down the will and/or the executor? Of course it is possible that no will was written, in which case of course the son would be the rightful heir But what if a nephew or someone has already swooped in and claimed to be the closet living relative and taken the estate? Hypothetically in this situation, how difficult would it be to get the estate off (a nephew for example) and have it rewarded to the son? And it's been a year, what if the father's bank accounts have been cleaned out without a trace?! The son has looked at a government website to see all unclaimed property but the father's name isn't showing Is this a cause for concern? He would have been a property owner, unless he went to a arehome Where should the son go from here? Who should he contact? Thank you so much
Comment from : Tom Hewitt

Tell us more about your situation here surveyzohopubliccom/zs/60Bz5M Feel free to read our article wwwoptimiseaccountantscouk/knwbase/how-to-minimise-inheritance-tax/ Why not join us at one of our live events? Register here: wwwoptimiseaccountantscouk/monthly-seminars/
Comment from : UK Property Tax Accountants

Good video Simon and Louise, I just wondered what your thoughts were on family investment companies, where you give away the future growth of your company to your children? I would be interested on your thoughts of these structures for IHT planning Thanks
Comment from : Richard Sullivan

Don't think you ever answered the question in the title? I believe it's within 6 months of the death?
Comment from : Peter Kemp

Read our article on When do you need to pay inheritance tax (IHT) to HMRC on your death? wwwoptimiseaccountantscouk/knwbase/how-to-minimise-inheritance-tax/ brPlease ensure that you register for our free UK tax saving seminars: wwwoptimiseaccountantscouk/tax-seminars/
Comment from : UK Property Tax Accountants