Bullock's Autumn 2013 Newsletter

Beyond the threshold: reducing the inheritance tax bill The inheritance tax (IHT) ‘nil-rate band’ has been frozen at £325,000 since 2009, and the Government has announced that it will remain at this level until at least April 2018. This is likely to mean... More

Beyond the threshold: reducing the inheritance tax bill The inheritance tax (IHT) ‘nil-rate band’ has been frozen at £325,000 since 2009, and the Government has announced that it will remain at this level until at least April 2018. This is likely to mean that as wealth grows over the coming years, more estates will become liable to pay IHT and those already facing a tax charge could incur a larger bill. Relaxed Real Time Information rules extended Employer-supported childcare: are you up-to-date? Running your business from home? Timely advice: minimising the corporation tax bill Tax Round-Up Tax Tip Reminders for your Autumn Diary Autumn 2013 Any proportion of the nil-rate band which is unused at the first death may be added to the nil-rate band on the death of a surviving spouse or civil partner, subject to certain rules. Lifetime gifts and gifts on death to your spouse or civil partner generally continue to be free of IHT. IHT is charged at 40% on death, although a reduced rate of 36 Less