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Changes in inheritance tax laws encourage charitable giving
Karen Clark

31 May 2017

Back in the March 2011 Budget, the Chancellor announced a cut in the rate of inheritance tax (IHT) for those leaving at least 10 per cent of their estate to a charity. Since then, statistics show there has been a sharp increase in the amount of charitable donations left in wills with an accompanying rise in the tax relief granted, suggesting that the policy is working as intended. Sadly though, there also seems to have been an increase in family members challenging wills where the family feel they have been disadvantaged as a result of the charitable bequests.

Do inheritance tax changes mean I should change my will?
Karen Clark

14 March 2017

Some changes in inheritance tax law can affect your will. On 6 April 2017 the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 will be introduced, with further increases up to a maximum of £175,000 by 6 April 2020. The conditions to qualify for the RNRB are such that careful Will drafting is required.

Summary of minor changes for individuals
Karen Clark

25 November 2015

A few minor changes were announced for individuals – most of them are positive and are summarised here.

Non-dom tax changes already decided?
Karen Clark

12 November 2015

The Government’s consultation on reforms to the taxation of non-doms shows there’s no scope for public debate on the overall impact of the proposed policy changes , merely the details of implementation.

Time to upgrade your home?
Karen Clark

12 November 2015

The new inheritance tax (IHT) threshold for family homes may offer some planning opportunities; make sure you’re ready.

Non-dom status abolished for 15 year residents
Karen Clark

07 July 2015

The abolition of non-dom status for long-term (15 year) residents is projected to raise £1.5bn but it remains to be seen at what cost to the UK.

Clampdown on pension relief
Mark Waddilove

07 July 2015

The Chancellor outlined measures to allow individuals to pass on their family home on death up to a value of £1 million without suffering inheritance tax, but the funding for this has to come at a cost to those high earners planning for their retirements. Step in changes to pensions.

Summer Budget 2015 - what lies in store for individuals?
Karen Clark

30 June 2015

Without the shackles of a Coalition partner, it’s possible the Conservatives may introduce some unpopular measures in this Budget, in the hope that any outrage will die down long before another Election.

Inheritance tax
Karen Clark

We want to help maximise the inheritance you leave to your heirs. To achieve this goal it’s important to review what inheritance tax (IHT) could be payable, identify any exemptions and reliefs, and – crucially – plan ahead.

Karen Clark

Partner

Karen Clark is the tax partner in charge of the London private client team at RSM.

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