{"id":3695,"date":"2020-11-02T00:00:00","date_gmt":"2020-11-02T00:00:00","guid":{"rendered":"https:\/\/hebblethwaites.com\/index.php\/how-much-of-your-estate-will-be-taxed\/"},"modified":"2020-11-02T00:00:00","modified_gmt":"2020-11-02T00:00:00","slug":"how-much-of-your-estate-will-be-taxed","status":"publish","type":"post","link":"https:\/\/hebblethwaites.com\/index.php\/how-much-of-your-estate-will-be-taxed\/","title":{"rendered":"How much of your estate will be taxed?"},"content":{"rendered":"<p>The present rate of Inheritance Tax (IHT) that is payable by your executors on your taxable estate is 40%.<\/p>\n<p>The good news is that you can reduce the impact of this tax, which effectively reduces the amount of your hard-won assets that is received by your beneficiaries.<\/p>\n<p>For example:<\/p>\n<ul>\n<li>The first &pound;325,000 is tax-free. This may increase to &pound;500,000 if you leave your home to your children or grandchildren, and<\/li>\n<li>If you leave your estate to your spouse, civil partner or charities there is normally no IHT to pay.<\/li>\n<\/ul>\n<p>Additionally:<\/p>\n<ul>\n<li>IHT is reduced to 36% if you leave more than 10% of your &ldquo;net-value&rdquo; estate to charity.<\/li>\n<li>Chargeable gifts made within the last seven years may be bought into account for IHT but are subject to a decreasing rate of IHT based on a sliding scale over the seven year period.<\/li>\n<li>Business assets relief may apply in which case those business assets would pass tax-free or be subject to a reduced rate. The same may also apply to agricultural property.<\/li>\n<\/ul>\n<p>Ironically, you don&rsquo;t have to die to determine how much tax your estate will pay. It is possible to organise your affairs to reduce the future IHT bill by careful planning.<\/p>\n<p>If you are interested in considering the options available to ensure more not less of your estate passes to your family, please call to discuss your options.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>The present rate of Inheritance Tax (IHT) that is payable by your executors on your taxable estate is 40%. The good news is that you can reduce the impact of this tax, which effectively reduces the amount of your hard-won assets that is received by your beneficiaries. For example: The first &pound;325,000 is tax-free. This [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-3695","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/3695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/comments?post=3695"}],"version-history":[{"count":0,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/3695\/revisions"}],"wp:attachment":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/media?parent=3695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/categories?post=3695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/tags?post=3695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}