Kent Solicitors

The promised increase in the nil rate band in 2010-11 to 350,000 pounds has been withdrawn. It will remain at current levels 325,000 pounds

Labels: Increase Inheritance Tax Nil Rate Band Budget, kent, legal advice, solicitors estimate costs

In October 2007 the Chancellor announced changes to the level of the Inheritance Tax (IHT) Nil Rate Band (NRB) available to a surviving spouse or civil partner. For individuals this remains at #300,000. However, for married couples and civil partners, it will rise to #600,000 immediately and to #700,000 by 2010. This is because couples will now be able to transfer the proportion of the unused IHT NRB, on their death, to the estate of their surviving spouse or civil partner.

Labels: Increase Inheritance Tax Nil Rate Band Budget