A week's a long time in IHT planning

At the beginning of October, under threat of the Phantom General Election, the Conservatives were promising to increase the Inheritance Tax threshold to £1 million. Then the new Chancellor stole their thunder in his Pre-Budget Report by announcing a “transferable nil rate band” for married couples and civil partners. This was widely misreported as immediately increasing the Inheritance Tax threshold to £600,000 or £700,000. The reality was far less generous. The personal nil rate band remained at £300,000, so nothing changed for people who didn’t marry or become civil partners. For ...