News

Welcome to Howell Jones' news page where our lawyers provide articles on the developments in law and matters that they believe will be of interest to you.

 

Changes to inheritance tax announced in the 2015 budget - what do they mean? our lawyers explain

14/07/2015

Inheritance tax (IHT) does not begin to affect an individual’s estate until the value of his or her estate is over £325,000. Once an estate surpasses this value, the proportion of the estate above this nil-rate band becomes subject to IHT of 40%. The only exception to this is in the context of married couples and civil partners, whereby the nil-rate band threshold can be transferred. When this happens the survivor’s nil-rate band threshold doubles to £650,000. However, above this value the survivor’s remaining estate too becomes subject to IHT of 40%.

Read more >