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Category: Inheritance Tax

Cryptocurrency and Inheritance Tax

Despite the value of Bitcoin plummeting in 2018, more and more people are deciding to invest in cryptocurrencies. As a result, there is now more guidance on how to hold and manage these investments, as well as how to incorporate them into inheritance tax planning for your estate. However, it is important to note that […]
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How is Inheritance Tax Calculated?

What is Inheritance Tax? Inheritance Tax is a tax on the estate of someone who has recently passed away. Everyone has a tax-free threshold of £325,000, and there is a tax of 40% on anything over this. Married couples and civil partners are allowed to pass on their assets to their partners tax-free. Their surviving […]
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Calculating Your Capital Gains Tax Bill

How Should I Calculate My Capital Gains Tax Bill? Step One Firstly, it is important to ascertain how much disposable income outcome you have from your main salary, pension, or other types of income. The easiest way to do this is by subtracting your tax-free personal allowance (£12,750 in 2021-22) from your total income. Step […]
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Who is Eligible to Pay Inheritance Tax?

Who Has to Pay Inheritance Tax in the UK? The amount you have to pay in inheritance tax depends on the value of your estate when you pass away. There is normally no inheritance tax to pay if: Either the value of your estate is below £325,000 Or you leave everything over £325,000 to your […]
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Inheritance Tax Rates Defined

What is the Nil Rate Band The nil-rate band is the amount above which inheritance tax is payable on the estate of someone who has recently died. The nil-rate band is currently fixed at £325,000 until April 2026. Therefore, in the current tax year 2021/22, everyone has a tax-free allowance of £325,000. This amount has […]
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