A Straightforward Guide to Producing Your Own Will by Philip Kingsley
Author:Philip Kingsley
Language: eng
Format: epub
Tags: A Straightforward Guide to Producing Your Own Will, A: Sixth Edition
ISBN: 9781847162649
Publisher: Straightforward
Published: 2009-09-25T00:00:00+00:00
If a person is resident (domiciled) in the United Kingdom the tax applies to all that person property wherever it may be situated at home or abroad. If a person is domiciled abroad then the tax is applicable only to property in the United Kingdom.
The threshold for inheritance tax is 40% on the estate after exempt transfers and after the current tax threshold of £325,000 (2011/12) (check current provisions with your tax office). The amount is increased (usually) each year from 6th April in line with the increase in the Retail Price Index for the year to the previous December. However, the Chancellor has indicated that he intends to freeze the current amount until 2014.
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