From April 2017 each individual will be offered a “family home allowance” of initially £100,000 and increasing to £175,000 by 2020-21. Following the design of the existing “Nil Rate Band” of £325,000, it will be capable of transfer between spouses and registered civil partners . The effect will be to permit up to £1m to [...]
You do not have to be particularly wealthy or a business owner to make use of Will trust provisions to make tax savings and to protect assets into the future. Business owners and investors should however consider trusts to maximise the very generous reliefs that are available to qualifying businesses interests. There are different types of trust. These can be set up in lifetime or take effect on death under the terms of the Will or a Deed of Variation within two years of the death.