Networking in Berkshire - Business Event Details

How up to date is your Estate Planning?

If you have made a will you have definitely done the right thing. But if you made the will before April 2017 it’s highly likely to be out of date.
Changes to the rules surrounding the taxation of an individual’s estate came in to force last year which mean that the value that can be passed to direct descendants will gradually increase.
Until April 2017 the amount that could pass ‘zero rated’ for inheritance tax (IHT) was £325,000 per person, this is known as the Nil Rate Band (NRB). The allowance can carry over to a surviving spouse on first death giving a joint NRB of £650,000.
The introduction of a new allowance specifically aimed at passing some, or all, of the value of the family home or previous residence on to children and grandchildren, known as the Residence Nil Rate Band (RNRB) came into effect with the ability to pass an additional ‘zero rated’ £100,000 on. This figure increases gradually to £175,000 by 2020 thus giving the possibility of a joint tax-free legacy of up to £1m.
Care must be taken however, as without planning, individuals with an estate value of £2m will see their additional RNRB allowance eroded, leaving those with estates worth £2.7m or more without the additional benefit.
Confused? Estate planning can be a minefield and it is worth getting appropriate advice to help protect your estate from the tax man, local authority, creditors or gold diggers.

We can help.......

Views: 11

Add a Comment

You need to be a member of Networking in Berkshire - Business Event Details to add comments!

Join Networking in Berkshire - Business Event Details

Featured Companies

Action Coach Business Coaching, (View events)

Take your business to the next level!

Digity Web Design &

Boost your sales opportunities with a new fresh website!

Claritas Accountancy

Helping you to grow your business to its full potential. 

Peninsula - HR & Health & Safety Services

Support to help advise, protect and grow organisations.

Get 'Featured' here

Business Directory

Find local companies, member profiles & get listed:


Latest Member Activity

Steve Mills posted an event

FREE RESULTS Webinar at The web

June 11, 2018 from 7:30pm to 8:15pm
Richard Misota posted an event

Monthly Biz2Biz Berkshire Networking Lunch at Grosvenor Casino Reading South

June 27, 2018 from 12pm to 2pm
Sue Dormer posted an event

Business Forum networking breakfast at Bearwood Lakes Golf Club

June 7, 2018 from 7:15am to 9:15am
Rob Pickering posted an event

6 Steps to a Winning Business at Howbery Park

June 1, 2018 from 9am to 12:30pm
May 17

Follow us

© 2018   Created by Chris Lunn.   Powered by

Member e-Badges  |  Report an Issue  |  Terms of Service