There has been a growing buzz over inheritance tax in the UK with the next Budget looming. Many people may have never encountered inheritance tax if they've never lost a loved one who has left them a significant amount of assets.
However, in some cases, a person's estate can be taxed by up to 40 per cent - the standard rate. While many may be worried that the money or other assets they plan to leave their loved ones when they pass will be heavily taxed, it's important to note that it may be exempt in many cases. Try MEN Premium now with our amazing New Year offer...
just click here to give it a go Money-saving expert Martin Lewis explained all the criteria that would exempt someone's estate from being caught up in inheritance tax through his social media account.
Talking on x, formerly Twitter, he explained that only 4 per cent of estates pay inheritance tax. If you are legally married then you are exempt from inheritance tax.
Read more on manchestereveningnews.co.uk
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