In the event of your death, your beneficiaries could pay inheritance tax at 40% on the value of your estate above £325,000.

If your estate including the value of your home is worth £500,000, that could mean a tax bill of £70,000.

For an estate of £1m, the tax figure could become £270,000!

Please click here to see our Intestacy Rules Flowchart or in other words, what happens to your estate if you die without a valid Will.

For advice on the various ways of mitigating a potential inheritance tax liability, please contact our tax partner Darren Specterman on 020 8458 7427 or email darren.specterman@glazers.co.uk.

Glazers Chartered Accountants is regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales..

Darren Specterman
Partner