Feature: Property Developers/Investors
March 19, 2018
Feature: Hub and Spoke Business Owners
April 9, 2018
Feature: Property Developers/Investors
March 19, 2018
Feature: Hub and Spoke Business Owners
April 9, 2018

Featured: Making the Most of Your Tax Allowances

The Government have introduced a new inheritance tax allowance, are you going to be able to claim?

In 2016 the Government introduced a new inheritance tax allowance called the residential nil rate band. This gives each individual an additional £175,000 (by the year 2020) that they can pass on tax free from their estate on death, added to the existing £325,000 personal allowance meaning that an individual will be able to pass on up to £500,000 or £1 million for a married couple, provided certain criteria are met.

This is where we need to be careful! Prior to the introduction of this new allowance many Wills were drafted to contain trust provisions to ensure that the maximum benefit from a couple’s personal allowances was achieved. These trust provisions could stand in the way of your estate and children benefiting from the new residential nil rate band allowance.

If you are unsure about your Will and whether trust provisions were used, get in touch today for a free, confidential review of your circumstances. This allowance is for everyone, make sure you make the most of yours!

Go to Family-related download page

Comments are closed.