We are pleased to announce the latest edition of The Fry Group’s Guide to Inheritance Tax. In fact, it is likely to be the first in a series of fresh issues because we are living in times of rapid change and much uncertainty even in this narrow field. The Guide includes details of the Main Residence Nil Rate Band for the first time, even though the legislation will not be finalised until July next year. That is mainly in relation to the complicated downsizing relief and other, as yet unspecified, changes to the fine detail of the scheme as a whole.
Unfortunately, it is too soon to be definitive over the Government’s proposed changes to the treatment of non-domiciled individuals. Despite promises of further detail “early in 2016” they have remained silent, and it seems hard to imagine with a change of Prime Minister (and Brexit) to address, that this will be top priority. Is it safe to assume that the start date will be pushed back from April 2017? We wish we could say so.
The conclusion we draw, once again, is that in this uncertain environment, we can best serve clients by offering them personalised advice in relation to their own circumstances. Please contact us for more information.