Category: Inheritance tax
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UK Autumn Budget 2024
The 30th October 2024 UK Budget announced significant changes to inheritance tax in relation to pensions, agricultural and business property relief, and “non-doms”. It is important to review your will regularly.
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Inheritance Tax and Domicile
It is important to review wills regularly to take into account, amongst other things, any changes in legislation. Currently, UK Inheritance Tax is a domicile-based system. A government Policy Paper originally published on 29th July stated that the government intends to replace this with a new residence-based system from 6 April 2025. Another document published…
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UK Inheritance Tax – Autumn Statement 2022
Today, the Chancellor of the Exchequer set out that the inheritance tax nil rate bands will stay fixed at current levels until April 2028. The nil rate band will continue to be at GBP 325,000. The residence nil rate band will continue to be at GBP 175,000. The residence nil rate band taper will continue…