Inheritance Tax Payment

Bridging Finance for Inheritance Tax Payments

Inheritance tax has the potential to make life’s most challenging times even more unsettling. As most people are not familiar with the inheritance tax legislation, it often comes as an unwelcome surprise at the worst possible time.

Inheritance tax is a form of tax payable on the estate of a deceased individual when it is passed on to one or more beneficiaries. From properties to personal possessions to savings, almost everything inherited from a deceased individual is considered taxable by HMRC.

The current inheritance tax threshold is 325,000 GBP. This means that an estate inherited with a total value less than this is not liable for inheritance tax. After which, the standard 40% inheritance tax rate applies to the value of the state above this amount. Example: Your estate is worth 500,000 GBP and your tax-free threshold is 325,000 GBP; therefore, the inheritance tax charged will be 40% of 175,000 GBP (which is the taxable amount after your tax-free threshold).

If you are considering taking out a bridging loan to pay an inheritance tax bill, call bridgingfinance.com for an obligation-free quotation. Alternatively, email us with the details of your request, and we will get back to you as promptly as possible.