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Clare
Clare, Solicitor
Category: UK Tax
Satisfied Customers: 27770
Experience:  25 years exeperience as a high street solcitor
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Hi I have left my house half to my wife and a quarter each

Resolved Question:

Hi I have left my house half to my wife and a quarter each to my sons the house is worthy£550.000 so my wife's share is £275 and my sons share is 275 split between them will they have to pay any inheritance tax ???
Submitted: 11 months ago.
Category: UK Tax
Expert:  Clare replied 11 months ago.
Hi
Thank you for your question
I shall do my best to help you but I need some further information first.
What other assets are there (if any) in your estate?
Claire
Customer: replied 11 months ago.
Hi only got a car each there worth £3000 each and £2000 in the bank and no other savings
Expert:  Clare replied 11 months ago.
Hi
Then there will be no problem.
Whilst the entire estate is worth more than the nil rate band the gift to your spouse is exempt which means that the gift to your sons falls under the current band of £325,000
I hope that this is of assistance - please ask if you need further details
Claire
Clare, Solicitor
Category: UK Tax
Satisfied Customers: 27770
Experience: 25 years exeperience as a high street solcitor
Clare and 4 other UK Tax Specialists are ready to help you

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