Do you know how the new IHT Residence Nil Rate Band will affect you?

The long-awaiteIMG_0327d IHT Residence Nil Rate Band allowance comes into effect on 6th April 2017 which effectively means that by 2020 a married couple or civil partnership will potentially benefit from a combined inheritance tax allowance of £1 million.

The new allowance will initially be £100,000 each (2017/18) and will increase by £25,000 in each of the following three tax years to £175,000 by 2020. A married couple or civil partnership could therefore effectively be entitled to the basic nil rate band of £325,000 x 2 = £650,000 plus £175,000 x 2 = £350,000. This additional allowance will not however apply to larger estates.
To read more and find about the conditions involved please click on the following link
Residence Nil Rate Band

Angela collects her certificate at the STEP Manchester Branch annual dinner

On the evening of Wednesday 8th February the annual dinner of the STEP Manchester Branch took place at the Bridgewater Hall with a presentation taking place to those who had been admitted as full members of the Society of Trust & Estate Practitioners.

Angela, who successfully sat the STEP Diploma for Accountants & Tax Practitioners in November 2016, was pleased to be invited to the event by the branch and gratefully accepted the framed certificate.