As Inheritance Tax (IHT) interest rates continue to increase, Personal Representatives face additional financial burden when settling a deceased person’s estate. Throughout 2023, the interest rate on unpaid IHT has increased six times. On 22nd August 2023, interest increased to 7.75% – an increase of 1.75% from January 2023 – and interest on repayments increased to 4.25%.
In Kings Court Trust’s latest blog, they explain when interest is due on Inheritance Tax and compare the current interest rates with the previous increases implemented throughout 2023.
Kings Court Trust is an award-winning estate administration provider that takes care of the practicalities after death. Their full suite of estate administration solutions is designed to support all families. By providing free, practical advice on the next steps following a bereavement, they can support your clients and add value to your business.
- Regulated by the Institute of Chartered Accountants in England & Wales (ICAEW)
- Trusted provider of estate administration for large UK-listed companies
- Offer a generous referral fee for referrals that result in business
- Provide access to a unique portal for support and updates on cases
- Fixed and transparent pricing
- Free, secure document storage for important client documents
- In-house legal and tax experts to advise on any situation
The Kings Court Trust model is also geared towards the introduction of potential new clients. Provided that consent is given by the beneficiaries of an estate, they’ll introduce them back to your business to help you grow your client base.
This article was submitted to be published by Kings Court Trust as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.