IHT exemption and foreign currency loophole closed

Inheritance tax (IHT) will be waived on the estates of people in the armed forces who die on active duty, the government proposed in its Budget.

Other IHT announcements in the Budget were:

  • As previously announced, the government will extend the starting rate of IHT of £325,000 until 2017-18
  • The government will treat funds held in foreign currency accounts in UK banks in a...

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.