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 But if you made the will before April 2017 it’s highly likely to be out of date.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: 28

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!

Web Design & Online

Let our team boost your sales by enhancing your online presence! Request a free consultation.

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

Jackie Osborne posted an event

BuzzConnect Networking Event at Donnington Grove Hotel

October 18, 2018 from 5:30pm to 7pm
8 hours ago
Profile IconJamie Blowes and Tim Watkins joined Networking in Berkshire - Business Event Details
8 hours ago
Tom Powter posted a blog post
Rob Pickering posted a blog post

Follow us

© 2018   Created by Chris Lunn.   Powered by

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