The infographic explains the basics of IHT, who is required to pay IHT, what happens in the event of being married or unmarried, and how you can legitimately reduce your IHT bill. There is also illustrated an overview of how the UK Government’s decision to increase the IHT threshold to £1 million (or £500,000 for single people) will work.
Inheritance tax (IHT) can be a complicated and delicate topic, but it is one that should be addressed in detail by couples when planning for the distribution of their estate after they die.
The infographic explains what IHT is in detail and also who pays IHT and who is exempt. For example, beneficiaries of estates belonging to members of the armed forces and/or emergency services, if the person dies in the line of duty or from injuries resulting from their duties.
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