Posts from April 2017

So with last weeks budget, and house prices still soaring especially in the south of the country, what does the new IHT threshold offer?  
The Office of Budget Responsibility says that the government will rake in near on £2 Billion in extra revenue over the next 5 years from Death Taxes. David Cameron had preciously said back in 2015, that they would take the family home out of ant tax equations, as we as hard working families should be able to pass our home on to our children free of any Inheritance Tax. 
So What has happened? 
I know throughout parts of Northamptonshire, Kettering, Wellingborough, Rushden, and Irthlingborough, and many other parts of the country, leaflets have been dropping through peoples letterboxes claiming that you can protect your home, your most valuable asset from having to pay for your care should you require care in the future, sometimes described as Asset Protection Trusts, Family Trusts, Care Home Trusts, with the promise, that you can safeguard your home from having to be used to cover care home fees. 
The new Stealth Tax as may are calling it, is now in place, the new Probate Fees. These new band of fees are going to make it hard for may people who are faced with the task of sorting out their families Estates, putting a financial burden on families that may not have ready funds available to be able to pay the fees that are required upfront for probate to be granted. 
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