Making Your Last Will and Testament - They even tax you when you die
Inheritance Tax - The 40% Death Tax
The Inland Revenue may take up to 40% of everything you own in the form of Inheritance Tax when you die.
You need to take action today - it is possible to plan ahead to either cover the cost of the tax or reduce the amount to be paid.
You work hard throughout life to build up your assets - do you really want the taxman to take nearly half of it in tax?
Visit Inheritance Adviser.com for ways to beat this tax before you die.
Why not try our Inheritance Tax Calculator.
Other taxes on death
Capital Gains Tax: Taxed at either 10%, 20% or 40% depending on income tax position (10% for lower rate earners, basic rate tax payer pays 20% and higher rate tax payer 40%). When assets of the estate are disposed of (i.e. sold) the executors or administrators of the estate may have to pay Capital Gains Tax on any gains made (after deduction of any annual allowances).
Income Tax: Taxed at normal tax rates of either 20% or 40%. Any income generated by the estate may be subject to income tax.
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