“Double Allowances” for Inheritance Tax

Following the Pre-Budget Speech in October, there was a flurry of media articles stating the allowances for Inheritance Tax had doubled. This is actually technically incorrect, but in many cases, effectively true.

Now, a husband or wife's unused Inheritance Tax allowance can be passed to the surviving spouse. If the first partner dies and leaves everything to the surviving spouse, there will be a double allowance at the time of the second death.

Many individuals have already considered suitable tax planning options which effectively utilise the nil rate band upon a first death, however for those that haven’t, these changes will be most welcome for saving Inheritance Tax.

If you do not have a recently-updated will, you should plan to look at this before it is too late.

Contact Janice@a4gsolutions.co.uk to obtain more details and book your appointment.

Our client and local athletic legend Steve Backley is appearing in the ITV show “Dancing on Ice 2008”

Steve has never ice skated before and according to a close friend he isn’t exactly known for his silky hips on the dance floor. At 6’5” tall and 16 stone, and with a hip replacement, he is not exactly brimming with confidence, but is reported to have trained harder than any of the other competitors and is really giving it a go.

Please vote for him this Sunday evening on 09016 16 1006.

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Warren Buffet