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*Loan,banking and credit>>>inheritance tax

Do you still have to pay inheritance tax.....?


if the amount is over 300.000 but it is being shared out????

yeah. its a b****! but yes you do.
a lot of people can't afford to inherit things because of it.
how stupid is that!
Yes. Tax is due on the whole estate before any sharing is done. The residue after paying tax is what is shared.
The estate tax starts at much higher levels. There would be no tax on an estate of only $300,000.
YES YOU PAY 40%
I THINK IT'S 350.000
Assuming your in the UK and you're talking pounds, then you would pay it on 拢300k. It doesn't matter whether that amount will be shared or not, it's payable on the total of the estate.
Engage BRAIN .. if you could avoid IHT by sharing out your estate, perhaps EVERYONE would spread their estate over every living relative they have in the world ????

NB. Its NET estate ... so if Granny takes out a 拢200,000 Mortage on the house just before she dies (and spends the cash on the horses) that Mortage has to be paid off before calculating any IHT ....
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