Andrew Spearman Assistant Solicitor Wortley Byers LLP
Inheritance Tax threshold frozen at £325,000
The proposed rise in the inheritance tax "nil rate band" threshold to £350,000 was shelved by the Chancellor in the pre-budget report on 9 December. That means from 6 April 2010 the threshold will remain at the current rate of £325,000 until at least 5 April 2011.
If house prices rise over the coming 18 months then the static threshold could mean more estates facing an inheritance tax (IHT) bill. Anything above the threshold is taxed at 40%. Proper estate planning and advice could help mitigate any ofyour IHT liability and we have an experienced team of solicitors to help you.
If you require any further advice or assistance please contact
Andrew Spearman or a member of the Wills, Probate, Tax and Trusts team at Wortley Byers on 01277
268393 or aspearman@wortleybyers.co.uk.
