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Examination Timing: 00H00M21S

Mr. Wilson’s estate is valued at £900,000. The nil-rate band is £325,000, and he left £50,000 to charity. What is the taxable value of his estate, and what will be the Inheritance Tax due at 40%?

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The taxable value of Mr. Wilson’s estate is £525,000 (£900,000 - £325,000 - £50,000). The Inheritance Tax due at 40% on £525,000 is £210,000.


Key Point: Calculate Inheritance Tax by subtracting the nil-rate band and any charitable donations from the total estate value, then applying the tax rate to the remaining amount.

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