Budget 2010 - Inheritance Tax (IHT) Threshold frozen
The Chancellor announced that the IHT threshold of £325,000 will be frozen for a further four years. In 2007 he had announced it would go up to £350,000 but that will now not be the case.
Christmas 2009 Competition Winners
Caption Competition
Winner - David Willsmore - "I said Pelvic Floor, not smell the floor!"
Runners up - Bob Wilkins - "Let's all pray Mark can cook!" and Sandra Paynter - "I know I put my contact lens somewhere..."
The Rachel Begley "You couldn't make it up" Award
Roger Shinn
Download the Gazette here.
New Inheritance Tax limit from April
With effect from April 6th 2009, the new nil rate band for inheritance tax is £325,000. This is the amount that can be passed free of Inheritance tax on death for one person.
Statutory Legacy increased from February 2009
On 1st February 2009 the statutory legacy (i.e. the amount that surviving spouses or civil partners are allowed to inherit if their spouse/civil partner dies without leaving a will) increased to:
- £250,000 (from £125,000) where there is a surviving spouse or civil partner and children
- £450,000 (from £200,000) where there is a surviving spouse or civil partner and parents or siblings, but no children.
The statutory limits only apply in certain circumstances. In some situations, the surviving spouse or civil partner, or the children, can inherit without any limit.
Every year we keep in regular contact with our clients by sending out a newsletter. This contains light hearted articles as well as useful information relating to the area of Probate, Wills and Trusts.
Download the latest edition of Goodsons Gazette here
Competition Winners!
We are pleased to announce the winners of our Christmas caption competition.
This was featured in our Christmas 2008 edition of Goodson's Gazette, which can be downloaded from the above link.
The photograph we asked readers to find a caption for is
First place goes to Bob Wilkins, who wins £30 of M+S vouchers for his caption
"Fred notices that brussel sprouts really do affect Anne."
The runners up, Roger Shinn and David Willsmore, both receive £10 of M&S vouchers for their efforts. Roger's was -
"Yes we’re ready to order, I’ll have the Suffolk herb sausage and horseradish mash and could you put one of the bangers behind my wife to wake her up please?"
whilst David weighed in with
"Never mind Anne, perhaps they’ll take us to McDonalds next time."
Thanks to everyone who entered - we had our best ever response.
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