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Tag: RATES

RATES

  • Overview of Inheritance Tax (IHT) and 2024 rates

    amoore70

    Inheritance Tax (IHT) is a tax on the estate (the property, money, and possessions) of someone who has died. The standard Inheritance Tax rate is 40%, which is only charged on the part of the estate that’s above the threshold. Thresholds and Allowances Tax Rates Exemptions and Reliefs Seven-Year Rule (Potentially Exempt Transfers) Gifts made… Read more

  • Understanding stamp duty land tax (SDLT) in the UK: Current rates and key information

    amoore70

    What is Stamp Duty Land Tax (SDLT)? Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property or land in England and Northern Ireland. It is applicable to both residential and non-residential property transactions and must be paid by the buyer. The tax is calculated based on the purchase price of… Read more