Inheritance Tax Planning
Trust Inheritance, Universal Asset Protection
Inheritance Tax is charged at 40% on the value of anyone’s estate above the nil band threshold which for the 2012/2013 tax year stands at £325,000.
Money passed from wife of husband or between civil partners has always been tax free however the effect of this ‘‘tax free allowance’’ is to postpone the payment of tax until the second spouse’s death.
, Universal Asset Protection