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Best way to leave a £1 million property without a large inheritance tax bill? LocalSolicitors.com

Leaving a £1 million property to niece and nephew. What is the best way to do this without a large inheritance tax bill?

I suspect the form just needs witnessing by a Solicitor - although without seeing the form I cannot be certain.

If it is a case of it needing witnessing then I suggest you just contact a local firm of solicitors and ask if you can arrange to pop in to have the form witnessed. Check what they will charge in advance. It should not be an expensive occupation. In other words, you do not have to formally instruct a solicitor.

Hope that helps.



Cherylyn A Sparkes



C A SPARKES SOLICITORS (cas@casolicitor.co.uk)

I have had a next of kin form from a firm owing monies to my husband who passed away two years ago

The short answer is no. Inheritance tax is payable on the value of the whole estate at the date of death, including any property, subject to any applicable reliefs (eg. the Nil Rate Band). This is the case regardless of when the property is sold.

I have inherited a property. Is there a time limit within which I must sell it to avoid inheritance tax?

Leaving a £1 million property to niece and nephew. What is the best way to do this without a large inheritance tax bill?

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