House sales and inheritance
A recent customer was concerned about just how much inheritance tax would be due on their property when it was bequeathed to their children.
Mr. & Mrs. "X" who live in Essex had actually worked out what it would cost in dues to the government when left as a legacy to the family. The house itself had just been valued at £375,000. They also had over £145,000 in savings.
If both passed away in a relatively short space of time, there would be a tax bill of £94,000. Currently the first £285,000 of equity is exempt from inheritance tax, however after that amount there is 40% tax due.
If you would like a quick sale, give us a call on 0845 621 5000 or use our online enquiry form for more details.
If you have been left a property in a will, also gives us a call, we will make you an offer on the spot and your sale will be through within 3 working days.
Asheldham, Barling, Basildon, Benfleet, Billericay, Borley, Bradwell-on-sea, Braintree, Brentwood, Brightlingsea, Broxted,
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Saffron Walden, Shenfield, South Woodham Ferrers, Southend-on-sea, Stanford Le Hope, Stansted, Stansted Airport, Thaxted, Thundersley, Tilbury, Tiptree,
Tollesbury, Waltham Abbey, Walton-on-the-naze, Westcliff, Wethersfield, White Roding, Wickford, Widdington, Witham, Woddford Green, Woodford Bridge,
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