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Tower Street Finance

Overwhelmed by IHT after losing both parents

Overwhelmed by IHT after losing both parents

  • Post published:26th April 2021

Dealing with Inheritance Tax (IHT) at any age can be overwhelming. Here’s how the Tower Street Finance team helped two siblings deal with IHT after losing both of their parents.

The problem:

Two siblings in their 20s lost both their parents in quick succession. The second parent died before the first parent’s estate could be properly administered. This led to delays in being able to manage the estate and sell the property, which was the main asset. As a result, inheritance tax (IHT) interest charges were mounting up.

The solution:

Tower Street Finance helped the siblings settle the £350,000 HMRC bill with an IHT Loan. And while the estate was being settled, and to ensure the customers had some money to fall back on, Tower Street Finance provided a £15,000 Inheritance Advance.