Inheritance tax
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Inheritance tax & LivingTogether (215 KB)
Inheritance tax is no longer just a problem for the filthy-rich: after years of rising house prices (even with the recent declines), more and more ordinary people are finding themselves landed with a bill.It is particularly a problem for cohabiting couples, especially if they own their own home. Unlike married couples or civil partners, couples that live together potentially have to pay tax on anything that they inherit from each other and cannot use each other’s inheritance tax allowance. This means they are also more likely to pay tax on anything they leave to other people, such as their children or family members.
In this guide, we’ll show you how Inheritance Tax works, how it is charged, and what action you can take to avoid leaving your partner with a whacking great Inheritance Tax bill to remember you by.
