skip to Main Content

Taxing times

 

Good news for those dealing with inheritance tax – the ‘main residence nil-rate band’, which is the amount you can receive before tax from the property that was the deceased’s main residence, will increase from April. The amount will rise from £100,000 to £125,000 per person, giving individuals £450,000 and couples £900,000 tax-free inheritance. This comes at a time The Times reports that HMRC increased their inheritance tax take last year by nearly 15%. Against the backdrop of a much more aggressive approach towards tackling avoidance, experts underline that doing the simple things will be key.