Sheila died on 6 June 2023 leaving an estate valued at £950,000. Her will directed that a specific legacy of her painting collection, valued at £410,000, should be left to her son, with the residue of her estate being left to her husband. Sheila had made no lifetime gifts. Calculate the Inheritance Tax payable on Sheila’s estate and the value her husband will receive.

Answer rating: 100% (QA)

To calculate the Inheritance Tax IHT payable on Sheilas estate and the value her husband will receiv... View the full answer