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Inheritance Tax Advice

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Inheritance Tax Accountants

At MJ Kane, our experienced inheritance tax accountants provide a comprehensive service to individuals dealing with a variety of tax problems.  We can help you calculate your IHT liability and advise you on reducing and eliminating it. We can assist you in preparing your Inheritance Tax Return, ensuring that deadlines and other requirements are met.
 We can provide advice on the best way to structure your affairs to reduce the amount of Inheritance Tax your estate will have to pay. We can also advise you on the best way to pass on your wealth to future generations, taking into account the various tax rules and regulations. Our experts take into account your individual circumstances and offer tailored advice and solutions to ensure that you and your loved ones are protected.

How our Accountants can help you!

  • What amount of inheritance will i pay?

    Inheritance tax is a tax which is paid on the estate of a deceased person and the amount of tax that has to be paid depends on the value of the estate and the relationship of the beneficiary to the deceased. Generally, people who are closely related to the deceased, such as a spouse, or civil partner, are exempt from inheritance tax. However, all other beneficiaries of the estate, such as friends or family members, are liable for inheritance tax.

    In the UK, the inheritance tax threshold is currently set at £325,000, meaning any estate valued over this amount is liable for inheritance tax. Depending on the size of the estate, the amount of tax that has to be paid can vary significantly.

  • When do i have to pay inheritance tax?

    When it comes to inheritance tax, it is important to remember that it must be paid within 6 months of the date of death of the deceased. If the tax is not paid within this period, then interest will be applied to the outstanding amount.

    Furthermore, a surcharge may be applied if the tax is not paid within 12 months of the date of death. It is therefore important to ensure that the tax is paid in a timely manner to avoid any additional fees or penalties.

  • Who is liable to inheritence tax?

    Beneficiaries of the estate are liable for inheritance tax, regardless of their relationship to the deceased. For example, if a beneficiary receives a gift or money as part of the estate, then they will be liable for inheritance tax on the amount received.

    Furthermore, any assets that have been passed on by the deceased, such as property or stocks, will also be liable for inheritance tax.

Why MJ Kane As Your Inheritance Tax Advisors

Award winning services

8000 plus satisfied clients

100+ years combined industry experience

30+ Countries covered

Fixed Fee Service

Tax efficiency focused

Meet the Team

Meet the Senior Management Team

Michael Kane

Founder | Managing Partner

SME Tax Compliance | Tax Planning | Business Development

FCCA Qualified

MJ Kane

Director | Senior Accountant

SME Tax Compliance | Crypto Taxation Compliance | Business Structuring

ACCA Qualified | BSc Hons Accounting

Jonathon Greenaway

Director | Senior Accountant

SME Tax Compliance | Property Capital Gains | Inheritance Tax

ACCA Qualified | BSc Hons Business Studies

Need help with Accountancy? Call us today: 028 9335 0290

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