Lamport Bassitt Solicitors - Legal News - Writing a will 'reduces IHT burden'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Writing a will 'reduces IHT burden' Consumers should write wills in order to lessen their inheritance tax (IHT) burdens, it has been claimed. The Telegraph noted that there are a number of ways in which people can reduce the amount they pay to the state in the event of their deaths. It made its comments after it emerged that one of the Tory manifesto pledges in this area had been scrapped. The Conservatives had planned to raise the threshold at which the duty kicks in from its current level of £325,000 to £1 million. However, because the party did not secure a parliamentary majority in the general election on May 6th, it was forced to enter into a coalition with the Liberal Democrats and one of the concessions it made was shelving its IHT plans. Responding to this, Richard Mannion of accountants Smith & Williamson remarked: "This means that people should write a will and take advantage of the various IHT reliefs currently available." Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News