How does Inheritance Tax work?

The new edition of the Beaconsfield Local magazine is out today and this time our article gives a useful and concise summary of Inheritance Tax and how it works.

You might know that Inheritance Tax is charged at a starting rate of 40% but do you understand that it applies to that part of a net estate above relevant nil rate bands, what happens to assets passing between spouses or civil partners and how the new residence nil rate band that was introduced on 6th April 2017 operates?

Have a read of the article to find out more.

An electronic version of the magazine can be found here and our article is on page 25.

We continue making our regular contributions to Beaconsfield Local magazine, so be sure to check out all future issues every two months.  The magazine has gone from strength to strength and is now firmly established as the local resource helping residents in Beaconsfield and surrounding areas including Forty Green, Knotty Green and Seer Green find local businesses, events, community information and community activities.  It delivers all the local information you might need, at your fingertips.