Written by Amelia Beringer, John FitzGerald
The government’s reforms to the inheritance tax (IHT) regime announced earlier this year, with the introduction of a new main residence nil-rate band, have once again put IHT under the spotlight. At the same time, recent figures show revenue derived from IHT to be at a five-year high.
While the latest reforms could help ease the tax burden of many estates, sensible estate planning should still be encouraged at an early stage, especially as this new relief will taper away. For net estates over £2m the residence nil-rate band will be withdrawn at a rate of £1 for every £2 over the threshold.
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I graduated from Cambridge University (Robinson College), with a degree in Geography before obtaining an LLB from the University of Law. I then spent 18 months working at Surrey Law Centre in Guildford before joining Gordon Dadds as a trainee in September 2011. I now work in the Private Client Department and am a trustee of the Gordon Dadds Charitable Foundation. I am a student member of STEP and currently studying the STEP Certificate and Diploma in Trusts and Estates. When not advising clients, I can be found playing the bassoon, swimming, boating on the Helford River or watching London Irish play rugby.