The following infographic by iWill Solicitors explains the basics of IHT, who is required to pay IHT, what happens in the event of being married or unmarried, and how you can legitimately reduce your IHT bill. There is also an overview of how the UK Government’s decision to increase the IHT threshold to £1 million (or £500,000 for single people) will work.

[Click image for full size version]

Inheritance Tax in the UK Explained

 

David Wallace

David Wallace is a search & social media marketer who lives in Ahwatukee Arizona with his lovely wife. Interests & hobbies include all things Disney, roller coasters, musicianship and Christianity. Follow +David Wallace on Google + as well as Twitter.

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