insideKENT Magazine Issue 46 - January 2016 | Page 141

BUSINESS

PLANNING
FOR
INHERITANCE
TAX
Kevin Thornby

WHILST IT MAY NOT BE AT THE TOP OF YOUR LIST OF THINGS
TO THINK ABOUT, INHERITANCE TAX, OR IHT, SHOULD BE
FACTORED IN AND CAREFULLY PLANNED FOR SO THAT YOU
CAN LEAVE YOUR LOVED ONES MORE OF YOUR ESTATE.
The current IHT threshold of £325,000 has been
frozen since 2009. It means that at the moment,
everyone is entitled to pass on £325,000 of
wealth tax-free, regardless of whether or not they
own a property. If you do own a property, then
the chances are most of this allowance will be
taken up from the value of that – especially as
since 2009, h