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Inheritance tax nil band rate frozen at lower amount until 2019

17th April 2013

The Society for Trusts and Estates Practitioners has said that the move could bring around 5,000 estates into the IHT catchment by 2019 and this will result in many more individuals being forced to consider the possible tax liabilities of inheritance for their beneficiaries upon their death.

The Government has said that the additional revenue generated by the turnaround will help towards the funding of care for the elderly.

Persons who believe they may be affected by the continuation of the lower inheritance tax liability rate should speak to a solicitor for estate planning as soon as possible as a number of reliefs and allowances are available for those who wish to mitigate the IHT liabilities for loved ones once they have died.

 

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