Alive and kicking

Despite changes in the Finance Act 2008 and the possibility of the inheritance tax threshold changing after a general election, inheritance tax (IHT), while being a tax on death, is still alive and kicking. In the Finance Act 2008, HM Revenue & Customs (HMRC) announced new legislation to change the way IHT is charged under certain circumstances. This change applies to married couples, or those that have entered a civil partnership. The change means that any unused nil rate band (the amount exempt from inheritance tax) of the first spouse, or civil partner, to die could be passed to th...