Christine's death certificate

[Wdm6789]

Her estate was worth over $50 million. Could someone explain the UK tax liability thing though?

[Mr Scarrott]

Originally Posted by Wdm6789

Her estate was worth over $50 million. Could someone explain the UK tax liability thing though?

The bulk of Christine's UK estate would be taxed at 40%- anything over the value of £325,000. Obviously we can't know if there were any other tax issues outstanding at the time of her death which needed to be resolved.

Some guidance is here:

https://www.agespace.org/finance/inh...resholds-rates

[Wdm6789]

Originally Posted by Mr Scarrott

The bulk of Christine's UK estate would be taxed at 40%- anything over the value of £325,000. Obviously we can't know if there were any other tax issues outstanding at the time of her death which needed to be resolved.

Some guidance is here:

https://www.agespace.org/finance/inh...resholds-rates

It said most of her assets were in the US, but she did have some money in the UK. I would assume to mitigate the hefty tax bill. 31 million euros is a lot lol.

[bombaysaffires]

Originally Posted by Mr Scarrott

The bulk of Christine's UK estate would be taxed at 40%- anything over the value of £325,000. Obviously we can't know if there were any other tax issues outstanding at the time of her death which needed to be resolved.

Some guidance is here:

https://www.agespace.org/finance/inh...resholds-rates

Here's the earlier post by someone regarding inheritance taxes.

[sue]

Originally Posted by Wdm6789

Her estate was worth over $50 million. Could someone explain the UK tax liability thing though?

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….