LexisNexis Private Client Tax Planning conference

Speakers featured

• Nicholas Hughes BDO Stoy Hayward
• Andy Sharp Specialist Taxation Services
• Arabella Saker Allen & Overy LLP
• Andrew Goldstone Mishcon de Reya

Transferable nil-rate band

Nicholas Hughes made the point that although the transferable inheritance tax nil-rate band applies even if the first spouse or civil partner had died while capital transfer tax or estate duty was in force there are unlikely to be many claims in respect of estate duty because there was no spouse exemption until 1972.

He pointed out that the transferable nil-rate band can be offset against failed potentially exempt transfers and against the additional charge on death on chargeable transfers.

Death bed planning

It is usually good deathbed planning to ensure that a terminally ill spouse owns all of the property which qualifies for 100% business property...