Intestacy......is There A Tax?

[ToraToraTora]

I was talking to someone yesterday that said the government takes 33% tax on estates when the death is intestate, this is beyond IHT. I can find nothing about any sort of tax on intestacy. Anyone have any idea what he was on about? seems a bit unlikely to me. Yes I know the about the rules of intestacy etc etc. Thanks.

[fiction-factory]

Never heard of that

[fiction-factory]

It may be a reference to this surprise IHT liability
https://www.clarkewillmott.com/private-capital/intestacy-and-unexpected-inheritance-tax-bills/

[fiction-factory]

If the estate is below IHT I do not believe there is any tax , regardless of whether the person died intestate or left a will

[ToraToraTora]

yeah sounded a bit far fetched, thanks all.

[Peter Pedant]

well if you know the intestacy rules
then you will know the taxation deal

perhaps you know them and dont know them at the same time

basically 40% of the estate above £325 000 and dont forget the gifts in the seven years prior.

I have read Wilmott and Clarkes bit - hand wringing over an avoidable taxc and ways to avoid it even after death ( deed of variation of an intestate estate )

the 33% could be the charge that the heir hunting firms charge to find the lucky inheritor....

god knows ....