inheritance tax

[fairydust]

what what amuont do you pay tax on inheritance?

shit .ty

Have you already incurred it? If not there might be a way to avoid it

it's my nan - my grandad has dies and i have to sort out the finances - and as there isn't a will

dies that it

Don't think it applies between spouses, only if passed down generations.

If there isn't a will, certain rule apply. Something like the remaining spouse being entitled to 40% of the estate and the remainder being divided between any surviving children - although my knowledge is out of date and the proportions may have changed. Any estate passing to the spouse will not attract inheritance tax.

threshhold is 275k but have a look here for info on how it applies. page 2 states "most people leave all their assets to their wife or husband, safe in the knowledge there will be no IHT to pay on their estate - spouses never have to pay tax on assets handed over by their partners" so she should be ok.