Kibkom North Cyprus Forum

Hi there,

Could someone kindly advise me of the rate of tax on Death Duties. I understand that our joint assets if one of us dies is taxed for death duty on 50% of total assets ( property, bank accounts, vehicles etc etc etc )

Thanking you

Come on kibkomers, some advise please, many thanks

Hutch.

Read the thread Confusion over wills ther e is some info about this tax.

Not sure how old this information is, but scroll down to the last for Inheritance Tax information.


http://www.ncmoneyguide.info/?page_id=193


Just looked further into this website and it is quite old after looking at Pension info, but might give you some idea.


Not sure if I'm tying myself in knots here but also found this on the same site above. It's a long piece and excuse the pun but you could almost lose the will to live with it. You can become cynical and say someone is always there to try and make money from you, or, look from the point of view that there is so much mixed info, you don't know who to believe. Anyway hope this helps in some way, even to get an idea how the system may work.


http://www.ncmoneyguide.info/?page_id=223

Just been advised by my lawyer / advocate when either party passes away and you have registered wills the duty payable below £100,000.00 is nil ( 0.00 ) over the £100,000 it is 1% of their estate ie half of the joint estate.