Budget 2015: How do the new Inheritance Tax Laws Affect You?
In July 2015, Chancellor George Osborne brought about an emergency Budget that concerned the Inheritance Tax threshold that was previously in place for UK citizens. This article will look into what changes have been made and how they might affect you. Changes to the Budget The current threshold is £325,000 per person and has been frozen at this amount since 2009. For married couples and couples in a civil partnership, this £325,000 threshold is doubled, so they can pass on assets to children or other relatives for a value of up to £650,000 without incurring any inheritancetax. In this Emergency Budget, George…Continue reading