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Where Taxpayers and Advisers Meet

IHT leaving rental property

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am
IHT leaving rental property

Postby kanrent » Thu Nov 24, 2016 6:27 am

hi i have just bought a buy to let property worth 300,000 pounds
i have 200,000 pounds in cash
can anyone tell me if i would pay inheritance tax on the property if i die after 2020
or what would my IHT bill be
the property will be left to my daughter

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: IHT leaving rental property

Postby Lee Young » Thu Nov 24, 2016 10:51 am

You will have a nil rate band of £325,000. If, at the date of your death, you do not own a property that you have lived in during your lifetime, you will not be eligible for the residence nil rate band. Do you own your own home?

If you are a widow(er) you might be entitled to a second (standard and residence) nil rate band.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am

Re: IHT leaving rental property

Postby kanrent » Thu Nov 24, 2016 4:14 pm

i live abroad in a rented property the buy to let house is the only house i own


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