MAJOR INHERITANCE TAX REFORMS 

In October 2007, the Government announced major reforms to the Inheritance Tax system. Under the changes, the nil rate band of one spouse or civil partner will be transferable to the other. This means that, under current limits, if the first spouse to die leaves everything to the other, the second to die will have a double nil rate band of £624,000.

These changes will mean that many people will need to re-examine their Inheritance Tax planning over the last few years.

For further details, please contact Jonathan Pounder or Gary Ovey on 01208 72328