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Understanding inheritance tax (IHT) calculations is crucial for anyone looking to manage their estate efficiently in the UK. This guide breaks down the essentials of IHT, from its definition and liability to the specifics of thresholds, rates, deductions, and reliefs. By providing a clear, numerical example, we aim to simplify the calculation process.
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Note: This page is for information purposes only and should not be considered as financial advice. Always consult an Independent Financial Adviser for personalised financial advice tailored to your individual circumstances.