Is your estate worth more than £312,000?
If so, do you want your loved ones to inherit a 40% tax bill?
What you should do is work out whether your assets currently amount to over £312,000 this is the 'Nil' rate limit for the tax year 2007/08. Its easy to underestimate how much your estate is actually worth, especially with property values rising so fast. Remember, your 'estate' can include everything you own - your home, car, investments, savings, insurance policies and any other personal belongings.
From 9th October 2007, a surviving spouse or civil partner may claim the unused proportion of a deceased spouse's or civil partner's nil rate band, up to the current nil rate band.
Complete the figures below to estimate your current tax liability.
The above calculator is designed to give you a basic indication of a potential inheritance tax liability. It should not be relied upon as amounts and limits are subject to change and may differ for married couples.
If your estate is worth more than £312 000 DON'T PANIC - there are many options open to you to help reduce this liability or even eliminate it altogether.
Simply contact us now to arrange an appointment with one of out Financial Consultants to discuss your options. |
