Inheritance tax

[neocon]

If there was a married couple living in a house worth say 900,000 in the UK and one of them died, would the widow have to pay inheritance tax? (In this case they jointly owned the property)

 

[Dis86]

If there was a married couple living in a house worth say 900,000 in the UK and one of them died, would the widow have to pay inheritance tax? (In this case they jointly owned the property)

Don't believe so as they also have ownership.

 

[Foghorn Leghorn]

There's no inheritance tax between spouses.

 

[Sui]

If there was a married couple living in a house worth say 900,000 in the UK and one of them died, would the widow have to pay inheritance tax? (In this case they jointly owned the property)

Nope.

https://www.gov.uk/inheritance-tax/passing-on-home

 

[dante6491]

No, transfers between spouses are exempt transfers.

Depending on a number of factors it could also be exempt on the death of the second person.

 

[Biggilus]

Just try your best to make it look like an accident now, ya hear?

 

[Martynt74]

Also worth adding that whilst each individual has a tax free allowance of £325,000, this rolls over to their spouse. So the remaining spouse could then leave up to £650,000 without the beneficiary incurring any inheritance tax.

(Assuming the one who died first didn't leave anything to anyone other than their spouse)

 

[Pipe & Slippers]

adding to what Marvt74 said, look up the Residence Nil Rate Band (RNRB)