Inheritance Tax
January 16th, 2008With rising house prices, the general level of prosperity, more and more of us are now affected by Inheritance Tax. The very low increases in the nil rate band exemptions do little in real terms to reduce the burden of this tax.
However, there is much that can be done to protect your estate from Inheritance Tax. If you are married or in a civil partnership, you should ensure your Will makes efficient use of the nil rate band exemptions so that whichever one of you dies first, the exempt amount is not wasted. The amounts exempted by the nil rate band are £300,000 for 2007/2008, £312,000 for 2008/2009 and £325,000 in 2009/2010.
