Inheritance Tax: Britons ‘easily reduce IHT bill by £800m through key tax relief Rebekah Evans
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Inheritance Tax is chargeable on a person s estate which falls above a particular threshold when they die. It is currently set at 40 percent, which means many families will have to confront the levy upon the death of a loved one. Understandably, as tax will reduce the amount of a person s estate which can be inherited, many will wish to legally reduce or wipe out their Inheritance Tax bill, if possible.
Recent insight has shown UK taxpayers were able to save over £800million in Inheritance Tax last year alone, according to research by private equity investment firm, Growthdeck.
Inheritance Tax: Britons easily reduce IHT bill by £800m through key tax relief msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
| UPDATED: 21:54, Thu, Jan 14, 2021
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Inheritance tax is payable on the estate - the money, property and possessions - of a person who has passed away. It is set at 40 percent above a certain threshold, which usually stands at £325,000. However, as government spending has increased within the last year to fund the fallout of the ongoing COVID-19 crisis, there has been speculation as to whether taxes will rise.
| UPDATED: 18:54, Thu, Jan 14, 2021
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SEISS was designed by the government to provide assistance to individuals whose business has been affected by the ongoing COVID-19 crisis. Through a series of grants, four in total by the scheme’s scheduled finishing date, eligible people can expect to receive a proportion of their average trading income to provide them with the financial support they need. However, self-employed people are now being warned they must declare COVID-19 grants in future tax returns.
Firstly, the email is littered with a series of spelling errors throughout, which is often seen as a tell-tale warning of scam correspondence.
In addition, there is no dedicated COVID-19 tax refund or rebate programme set up by the government at present.
Official correspondence is also likely to contain a person’s name, addressing them in the first line, which this email does not.
Finally, HMRC has said it will not contact customers in this way, and so correspondence such as this can be safely assumed to be a scam.
Carl Wearn, head of e-crime at cybersecurity specialist Mimecast, spoke exclusively to Express.co.uk about the matter.