Inheritance Tax Limit Frozen
Inheritance Tax Limit Frozen
by Ashley Clark, Director - March 2010
INHERITANCE TAX
Given the changes in the economy, it was no surprise that the inheritance tax nil rate band was frozen at £325,000 in the Pre-Budget Report. The freezing of the nil rate band is clearly bad news for some wealthier clients who have a potential IHT liability on their death but cannot afford to gift capital. For them, insurance - based trust solutions in the shape of discretionary trusts, loan trusts and discounted gift trusts may well be suitable. Contact us for more information.
All clients who are concerned about inheritance tax should seek to use their available £3,000 annual exemption(s) before the end of the tax year.
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