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Mitch Hahn
CEO - Nordens
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More Than Just Accountants
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Get in touch today to discover how Nordens can revolutionize your business.
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Accounting
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Agriculture
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Get In Touch
02085300720
enquiries@nordens.co.uk
The Retreat, 406 Roding Lane South, Woodford Green, IG8 8EY
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Safeguarding your loved ones against paying too much inheritance tax
If your estate is worth more than £325,000 when you die, your heirs will have to pay inheritance tax on everything over that amount – but they will pay nothing if your estate totals less than that.
Your estate includes your property, savings and any other assets you pass on after debts and funeral expenses have been paid, and the tax rate is 40%.
In this video, Mitch Hahn explains how you can reduce your inheritance tax bill. Watch it now to find out how to benefit your family right now.
Hi, I’m Mitch Hahn, Partner at Nordens Chartered Accountants.
Hi, I’m Mitch Hahn, partner of Nordens Chartered Accountants. Today I am going to deliver you a
two minute video on “What is Inheritance Tax?”
If your estate is worth more than £325,000 when you die, your heirs will have to pay inheritance tax
on everything over that amount. But they will pay nothing if your estate totals less than that.
Your estate includes your property, savings and any other assets you pass on after debts and funeral
expenses have been paid, and the tax rate is 40%.
But…
If your estate is entirely inherited by your spouse or civil partner they don’t have to pay ANY
inheritance tax.
Anything up to the £325,000 is called the Nil Rate Band and the figure is attached to estate of the
person who dies rather than to the people who inherit.
The Nil Rate Band can be passed on to a surviving spouse or civil partner and they can add it to their
own Nil Rate Band, meaning that when they die they can leave an estate worth £650,000 that’s free
of inheritance tax.
So, what happens if you give away money and property while you’re still alive?
You can make gifts of up to £3,000 in any tax year without worrying about inheritance tax AND you
can give far more tax-free as long as you live for seven years after you have made the gift. But if you
die within seven years of making it, HMRC will treat it as part of your estate.
So how much tax will be due?
Inheritance tax is due only on anything above the £325,000 threshold. It’s normally 40% but it’s cut
to 36% if you give a tenth of your estate to charity.
Lastly, there is something else that is worth knowing. From 2017, there is an extra allowance
covering the value of your main home which started at £100,000 but will rise to £175,000 per person
by 2020.
Combined with the nil rate band, it means an individual will be able to leave £500,000 and a couple
up to a million, without their estate being subject to Inheritance tax at all.
I hope this brief overview has been helpful. Obviously, Inheritance Tax is bespoke to your own
personal situation, so to discuss this further, please do get in touch.
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews
Director - Metro Bank
Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.
Co-Founder - Chicmi Limited
Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.
Director - Rose Opticians
I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation
Founder & Director - Physio LDN
Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.
Principal - Pauline Quirke Academy
Great accountants, always available to offer advice. The team have transformed my business.
Founder - Dataphone
Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.
Director - Linekers
Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!
Founder - Foundation Sports Limited
A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.
Managing Director - Prime Time Boilers
I have been with Nordens for many years now and they are a great accountants.
Founder - Vivid Finishes
We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.
Managing Director - AMD Interior Architecture
Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.
Director - Forma London
Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Mark Norden
Founder
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
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Email: enquiries@nordens.co.uk
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Nordens is a trading name of Nordens Limited, a limited company registered in England under company number 04709951. Our registered office is: The Retreat, 406 Roding Lane South, Woodford Green, Essex, IG8 8EY.
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