What you need to know about Inheritance tax

What you need to know about Inheritance tax

What is Inheritance tax and when do you pay it? Inheritance Tax is payable after you die and is usually dealt with by the people dealing with your financial affairs once you have died. Before any calculations are made any debts and funeral expenses need to be...

Inheritance tax is largely a voluntary tax

HMRC have recently reported that they are expecting the revenue it receives from collecting Inheritance tax to increase to £3.3bn by the 2015-16 tax year. That’s up from £2.7bn in 2010-11. That’s more than a 20% increase in tax. However, Inheritance Tax is largely a...

Inheritance tax is largely a voluntary tax

HMRC have recently reported that they are expecting the revenue it receives from collecting Inheritance tax to increase to £3.3bn by the 2015-16 tax year. That’s up from £2.7bn in 2010-11. That’s more than a 20% increase in tax. However, Inheritance Tax is largely a...