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Find out about Wills, Trusts and Probate in Ealing, London and how local property prices impact on the amount of inheritance tax you pay.
You can speak to one of our consultants at any time. We cover all areas of Ealing and we are happy to arrange an appointment at your place of work or in the privacy of your own home.
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Inheritance Facts about the London Borough of Ealing
About Your Property and Inheritance Tax
Like most parts of London, Ealing has seen sharp growth on property prices over the last 20 years. These price rises, whilst good for homeowners in many ways, have also pushed many homes up into the Inheritance Tax (IHT) bracket.
IHT is 40% on the entire value of your estate above £325,000. If you are a married coupe this allowance doubles to £650,000.
Here are some examples:
Terraced property sold in Ealing (2019) = £823,784
- IHT liability (single person) = £199,513
- IHT liability (couple) = £69,513
Semi-detached property sold in Ealing (2019) = £1,044,889
- IHT liability (single person) = £287,955
- IHT liability (couple) = £157,955
How can I reduce by IHT liability?
There are lots of ways to manage this properly so that you don’t have to pay the full amount. You’ll need to book an appointment to discuss this with us as everyone has different individual circumstances.
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