Published On: Sat, Apr 11th, 2020

Inheritance Tax: Who may be able to claim back ‘overpaid’ IHT | Personal Finance | Finance

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Otherwise, some people may end up paying tax on the value of the shares at the daate of death, Wilsons warned, adding that this could have been when they were at a higher value.

An example of this is if a portfolio with a value of £1million at the date of death was inherited, then the tax owed would be £270,000.

However, should the portfolio of shares have halved in value to £500,000 during the market crash and then be put on sale within a year of the date of death, then a rebate can be applied for.

According to Wilsons, this could lower the Inheritance Tax to £70,000.

Away from the coronavirus crisis, figures show that in 2018 to 2019, more than 4,5000 people were rebated over Inheritance Tax.



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