inheritance tax | AccountingWEB

inheritance tax

The Chancellor looked to decrease the tax burden on ordinary workers by increasing the personal allowance and IHT thresholds - but sought to recoup any giveaways in other areas.

George Osborne has increased the inheritance tax threshold, allowing £1m homes to be passed down to children after death to be free of tax.

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Business Property Relief (BPR) is available to reduce the liability to Inheritance Tax (IHT) on the transfer of relevant business assets.

Has anyone had experience of claiming the normal expenditure out of income exemption for cash gifts continuing after entry to a nursing home?

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A judge has ordered Romie Tager QC to pay a penalty of more than £1.2m for failing to comply with requests for information about the inheritance tax on his father's estate.

Pensions Flexibility

The Autumn Statement for 2014 will be given by George Osborne on 3 December 2014.

About 320,000 people who retire with defined contribution pension savings each year will no longer have to worry about their pension savings being taxed at 55% on death,

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HMRC is planning a crackdown on a new type of tax avoidance scheme involving in

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Is a corrective account required if the value of the estate still falls below the £nil rate band? Full details, IHT400 submitted and agreed with HMRC.

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