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  • Welcome to Myers & Co Accountants Ltd

    Welcome to Myers & Co Accountants Ltd

    Providing a professional and friendly accountancy service
  • Helping your business to be more profitable

    Helping your business to be more profitable

    We help small to medium sized businesses operate more tax efficiently
  • We offer a fixed price service

    We offer a fixed price service

    Our service is all inclusive with telephone, email and software support
  • Utilise our online system and save time

    Utilise our online system and save time

    Our online system will enable clients to approve documents securely online
  • Over 80% of our new business comes from referrals

    Over 80% of our new business comes from referrals

    We believe this is a testament to our customer service
  • Contact us today

    Contact us today

    Call or email us today and receive your free confidential consultation

CLIENT LOGIN

Secure Login
Utilise our secure client login area to submit, and have documents approved remotely.

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Remote Access
Need on screen help from us, but need it now. Use our remote system and let us take care of it.
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ABOUT US

Who are we:

We are a professional and friendly firm of Chartered Certified Accountants, headed up by Clive Myers, and his team.

What do we do:

We work with small to medium sized small businesses and individuals to help them operate as tax efficiently and as profitably as possible.
Learn more



CONTACT US

Call Us

Call: 020 8418 8980

Email Us

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Find Us

Suite 204A, East Wing, Sterling House, Langston Road, Loughton, Essex IG10 3TS
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2020/21

  • IHT may be payable when an individual's estate is worth more than the IHT nil rate band when they die.
  • Lifetime and death transfers between UK domiciled spouses are exempt from IHT.
  • For 2020/21, a further nil rate band of £175,000 (2019/20 - £150,000) may be available in relation to current or former residences.
  • The IHT threshold available on death may be increased for surviving spouses as there may have been a nil rate band not used, or not fully used, on the previous death.
  • There are reliefs for some business and farming assets which reduce their value for IHT purposes.
  • IHT may also be payable on gifts made in an individual's lifetime but within seven years of death.
  • Some lifetime gifts are exempt.
  • Transfers of assets into trust made in an individual's lifetime may be subject to an immediate charge but at lifetime rates.
  • There are also charges on some trusts.

IHT rates and nil rate band 2020/21 and 2019/20

IHT nil rate £325,000
Lifetime rate 20%
Death rate 40%
Death rate if sufficient charitable legacies made 36%

IHT reliefs for lifetime gifts

Annual exemption £3,000
Small gifts £250
Marriage  
- parent £5,000
- grandparent £2,500
- bride/groom £2,500
- other £1,000

IHT - reduced charge on gifts within seven years of death

Years before death % of death charge
0-3 100
3-4 80
4-5 60
5-6 40
6-7

20