Although life has been far from normal in recent months, the COVID-19 pandemic does not mean that there is no place for inheritance tax (IHT) planning in these strange times.
New limits on the Residence Nil Rate band came into force from 6 April 2020 which could significantly impact your IHT liability, particularly if your Estate is valued close to the £2m threshold. Other planning measures such as Family Investment Companies (FICs) can still be put in place, and the financial impact of COVID-19 can actually offer increased opportunities for planning.
In this webinar we will first look at the practical impact of the Residence Nil Rate band, before considering planning with low asset values.
We will also look at how FICs work, and how you may use them in practice.
Finally, we will look at some of the ways in which the Chancellor might look at changing the IHT and capital taxes regime in order to pay for the COVID-19 bail-out, and why you might like to think about IHT planning now.
This webinar will run for an hour and following the session, there will be the opportunity to ask our panel questions.
Thursday 30 July 2020
Format and timings
(There will be a Q&A session)
Link to Webinar
In the meantime, if you would like to discuss the webinar topic or would like to arrange a call with a member of the team to discuss the impact of COVID-19 on your personal taxes, please get in touch with your local Wilkins Kennedy contact.
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