Quote:
Originally Posted by Wdm6789
Her estate was worth over $50 million. Could someone explain the UK tax liability thing though?
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My understanding of UK taxes at death…
Upto £325000 no Inheritance tax.
Over £325000 tax of 40% applied.
So in £50,000000 million almost 40% paid on the lot, really.
Although my estate is a tad smaller than Christine’s…I think that’s it..
Basically Over £325000 you lose almost half of it in tax.
I am sure there are legal ways trusts, funds money and gifts that can help to avoid paying that much….