07/08/2026
🍿 Film Friday 🎥
In Downton Abbey: A New Era, the legitimacy of Robert’s inheritance comes under scrutiny when his mother’s past raises unexpected questions.
While most of our homes aren’t quite as grand as Downton Abbey, some larger estates may be subject to Inheritance Tax.
What is Inheritance Tax?
Inheritance Tax is a tax that may be payable on a person’s estate when they die.
The standard rate of Inheritance Tax is currently 40% but most people benefit from tax-free allowances before any tax becomes payable.
✅ Every individual currently has a Nil Rate Band of £325,000.
🏡 If you leave your residential property to direct descendants (such as your children or grandchildren), you may also qualify for the Residence Nil Rate Band, which is currently up to £175,000.
Together, these allowances give an individual potentially up to £500,000 before Inheritance Tax is due, depending on their circumstances.
Married couples and civil partners can usually leave assets to each other free of Inheritance Tax and any unused allowances can often be transferred to the surviving spouse or civil partner, potentially allowing up to £1 million to pass free of Inheritance Tax on the second death.
Every family has different circumstances, so it is important to seek advice based on your own situation.
We can help you plan today for a worry-free tomorrow by identifying whether Inheritance Tax could affect your estate and, if specialist tax advice is needed, introducing you to a trusted professional.
📱07565354386
📧 [email protected]
💻 www.dynastywills.co.uk
Image credit to the original owner.
