Duke of Westminster aged 27 and his sister inherited £2 Billion inheritance tax free
@alangoudie2299
6 күн бұрын
Thank you for a very helpful & easy to follow video. I have subscribed.
@billhicks6070
5 ай бұрын
Thank you Helena for this simple, clear and helpful video. Useful at a stressful time.
@mikeroyce8926
3 жыл бұрын
Thank you Helena. You have covered in a very simple but helpful way something that is quite time consuming to uncover - how to calculate the Residence Nil Rate Band (the £175,000 extra threshold that may apply to some estates).
@petewitkowski5315
Жыл бұрын
To avoid inheritance tax just get in touch with the little man Charlie at the Palace. He is an expert on how not to pay inheritance tax.
@BouncingBack
3 жыл бұрын
There are a number of ways to reduce or eliminate the amount of inheritance to be paid on our estate or the estate of our families. Here are top tips to help you plan to avoid or reduce paying inheritance tax, which is an average of £200k in the UK.
@runningman5871
2 жыл бұрын
Amazingly clear vidwo, thanks. Cleared up a lot of my questions.
@MadderPrinciple
3 жыл бұрын
Excellent video, so helpful, as always!
@BouncingBack
3 жыл бұрын
Thank you!
@serraios1989
3 жыл бұрын
Very useful, thank you
@marissakeynes2532
2 ай бұрын
It's disgusting how the Govt tells us how much we can gift out of our own money which has already been taxed.
@EdmundBaileyUK
3 жыл бұрын
Well done Helena!! Really useful info on an area that is and will impact on more and more people! Thanks 🙏
@BouncingBack
3 жыл бұрын
Thank you, glad you found it useful
@robbloom272
3 жыл бұрын
Very useful information - thanks
@BouncingBack
3 жыл бұрын
Thanks
@Gutenmorgenside
Жыл бұрын
Well explained.
@Mike-ot6lb
3 ай бұрын
Many thanks for this video. Need a video on how to fill in how to value someone's estate. Do you have one?
@dipeshmistry8797
3 жыл бұрын
Thanks for sharing
@BouncingBack
3 жыл бұрын
You're welcome
@stevethomson7936
2 жыл бұрын
Just for info, the care home funding guidelines from the Scottish Government say that putting your property under trust would not avoid care home fees.
@musheopeaus4125
3 жыл бұрын
Excellent video . I had to trawl though so much pointless dross to find this gem
@BouncingBack
3 жыл бұрын
Really pleased it was useful - thank you
@lawrie3448
Ай бұрын
Trying to plan ahead - inherited my wifes family home and it was seperated between me,my wife and my son . We have listed it as tenants in common and both named our son as the beneficiary of the deceased section of the ownership . Is this taxable - bearing in mind that the survivor doesn’t own the part that the deceased has left ! We have done the same with our main home - does tenants in common alter the validity of our main home claim ?
@lerouretan1937
2 жыл бұрын
Hello Helena, I am using the gift out of income for my father's probate, but find the regularity part very vague: how strict is HMRC on the regularity: for example will payments of say between £1000 and £2000 every three months, but not on specific date be acceptable as "regular". And the other question, is it okay if these payments were to different members of the family? Son and Grandchildren for example? Or must they be to only one designated person (at any one time)?
@stevanharrison
Жыл бұрын
Yes spend it and enjoy while you can
@malvanlondon8683
10 ай бұрын
Thanks for the very helpful video. Is the deceased's ISA savings - if given to their children - taxed at 40% ?
@mikeroyce8926
3 жыл бұрын
I have a suggestion for you Helena. A while ago I spent ages looking for my late father's will. I could find a photocopy, but I couldn't find the original will. Then an accountant pointed out to me that the Probate Office keep the will, before granting probate. Have you tried asking the probate office if they could help you trace the "missing" will?
@BouncingBack
3 жыл бұрын
Thanks for the tip, my father-in-law died long before probate existed. We paid for a will search and nothing came back. Anyhow, after getting my MP involved, the probate office granted the probate the end of last week so all is sorted now - finally!
@marklittler784
Жыл бұрын
Probably better making written copies of wills sometimes even solicitors loose them, can register will too.
@nixodian
Жыл бұрын
7yr rule ,so if survive longer than 7 yrs the amount that you gifted is iht free, but cgt free? does it meaning gifting any amount? gifting to whoever?
@amandadodgson2444
Жыл бұрын
Very informative..thanx..
@tarakkhandakar
3 жыл бұрын
Hi quick question, my dad owned a home worth 800k, my dad didn't use his 325k threshold allowance. Now my mother owns the home. If she sells and gifts the children cash of 700k. do we only pay inheritance tax on anything over 650k? (the 50k) if she passes away within 7 years?
@davidtrunks4758
Жыл бұрын
Misleading video - It's entitled "when do I have to pay inheritance tax UK" but after watching the whole 15 minutes it does not answer this question whatsoever. It only tells you how to avoid some of the tax. For example is it due BEFORE I sell the property?
@roymichaeldeanable
2 жыл бұрын
The Probate Office isn't the problem...the problem lies closer at hand
@marklittler784
Жыл бұрын
Best of my knowledge a trading company gets passed to relatives inheritance tax free like a sweet shop if it's been trading at least two years a company is only few hundred to form. But check with accountant yourself.
@lenb9037
9 ай бұрын
Nice to know if you leave all your estate to the political party who brought in inheritance tax to steal from you then no inheritance tax would be due.
@petekelvin2736
3 жыл бұрын
So hard to find nice content like this. I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
@petekelvin2736
3 жыл бұрын
Invest globally in bitcoin, gold, silver, forex market, commodities. Just don't be left out and save yourself
@micheal9186
3 жыл бұрын
Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.
@investwithqueenie5491
3 жыл бұрын
I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do because i have no idea of how and where to invest in these?
@petekelvin2736
3 жыл бұрын
@@investwithqueenie5491 Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts?
@investwithqueenie5491
3 жыл бұрын
@@petekelvin2736 yea. You’re right. The fact is I have not done this bitcoin before but have been hearing about it. Do you know any professional broker you could refer me to?
@hankbarnes8674
3 жыл бұрын
Is life policy is also subject to inheritance tax? I assume it is.
@BouncingBack
3 жыл бұрын
If it forms part of your estate then yes. It is possible to set up life insurance within a Trust, that way it is kept separate from your estate and therefore exempt from inheritance tax.
@ritathomson9764
Жыл бұрын
So if you inherit 50,000 in the bank and a house worth 75,000 you don’t have to pay inheritance tax is that correct ?
@tommydaye
Ай бұрын
If I want to give my Sister and her family £10,000 each will they be libel to pay tX on this ,
@brianshefford2317
10 ай бұрын
Inheritance tax is a money spinner for hmrc they won't be in a hurry to cut it anytime soon it's all about the money as always
@floswason8776
7 ай бұрын
Sounds like she’s in Britain we are one month away from 2 years waiting for brothers will to get disposes You pay 40% of money over 325 pounds I’ve checked NYS you pay tax on anything over $1.6 million federal tax comes after you get anything over $40,000,000
@twig3288
3 ай бұрын
Did you say the government wants its FAIR share? Define fair
@jakestablettableto9453
3 ай бұрын
Channel owner hearted a bot comment promoting scams, wouldn't listen to a word
@richardmurphy4520
3 ай бұрын
Fair share !? 40% !!!
@joehayes819
2 жыл бұрын
Hi, I’m just wondering my grandad has left me and my brother 25% and my mum 50% of his property valued at 280k (probate) now because I will be receiving 25% and I own another property under 125k will I be subject to any tax? My brother and mother the other recipients do not own a property as of yet? Thanks
@donmckechnie9858
Жыл бұрын
The gov doesn’t tax you to death. Wha wha! The gov builds roads, schools, pays police, etc! People that avoid a reasonable inheritance tax is a deadbeat. We cannot continue to concentrate wealth.
@ianreed7605
7 ай бұрын
Somewhat narrow minded. Some people are careful with money and consequently have substantial amounts to leave. Some people spank all their money and are left with very little to give. Inheritance tax penalises you for being careful, prepared and smart. It’s zilch to do with concentrating wealth.
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