a call on:
0800 29 88 66 1
We provide Wills, Trusts, Probate and other inheritance related legal services to residents of Haringey.
Inheritance Facts in Haringey
Your Property and Inheritance Tax
Haringey is made up of over 97,000 properties. 17.4% of homes are council rented, 10.8% are rented from social housing landlords and 24% from the private sector.
46% of all housing in Haringey is owner occupied and therefore are potentially liable to IHT (inheritance tax). The areas of Crouch End, Muswell Hill and Highgate are amongst some of the most expensive and prosperous areas in the UK, whereas other wards are amongst the most deprived parts of the country.
Nevertheless property prices across Haringey, even in the most economically deprived parts, are well above the rest of the UK and have experienced continuous growth for the last decade. Since 2013 they have increased, on average, by 27%.
Average property price (2017) = £591,558
Average IHT liability (2017) = £106,623.20
When is Inheritance Tax payable?
Inheritance Tax is payable on death. When you die your Estate (your property, possessions and financial assets) goes into Probate and all IHT liabilities are payable before any money is released to your beneficiaries.
It can be a slow and difficult process but we have administered over 200 probate cases successfully in the last decade.
How can I reduce by IHT liability in Haringey?
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.
About Haringey’s economy
There are approximately 8,500 businesses in Haringey employing around 65,000 people. Of these, small businesses account for 94.2%.
The main sectors of employment in Haringey are:
- Retail and wholesale distribution – 19.9%
- Health and social work – 19.0%
- Real estate, renting and business activities – 15.3%
- Education – 12.8%
- Manufacturing – 8.3%
- Public administration – 6.8%
- Hotels and catering – 6.8%
- Transport and communications – 6.6%
- Construction – 3.5%
Recommended Products for Haringey Small Businesses:
If you are a small business owner in Haringey it’s vital that you protect your business with the following products:
Will – allows your business to pass to beneficiaries of your choosing
LPA – allows you to elect someone to legally act on your behalf if you are unable to do so for medical reasons
Business Trust – allows you to ensure that your family continue to receive financial benefits of the business in the event of your death
Funeral Services in Haringey
Haringey Council does not provide funeral and cremation services, and with the average UK funeral costing £3,700 (2017) it is important to begin thinking about and making plans early on.
For more information download the Haringey Bereavement Guide here:
Or visit UK funerals online:
Health in Haringey
Over 25% of Haringey is made up of green outside space so there are plenty of ways to keep fit and active. Like many other London boroughs you’ll also find plenty of outdoor markets selling fresh produce, and there are absolutely loads of classes where you can take part in everything from Zumba to rock climbing.
You can find out all about how health and sports clubs by visiting:
Haringey is also home to Premier League giants Tottenham Hotspur FC as well as non-league clubs Haringey Borough FC and Greenhouse London FC.
Other notable sports teams include London Scholars rugby league and the Haringey Greyhounds Ice Hockey team.
If you have any questions, please call us on 020 8340 3102 or 0800 29 88 66 1