Brown gets the headlines on IHT

It looked cheeky to begin with but the more the city has looked the more they don't like it. It would seem that there has been a bit of spin. (I know shock horror). See what KPMG say below:

PBR: IHT move grabs headlines but will anyone be better off?
Tax 09 October 2007

Commenting on today’s announcement to raise the IHT threshold to £600,000,Carolyn Steppler, tax director at KPMG in the UK<, said:

“This change, although likely to grab headlines, is in practice only giving to most people what they already have.

“Many married couples will already have drafted wills to allow each spouse to take advantage of their nil rate band through the use of a nil rate band discretionary trust. This was possible even for the family home.

“It is very disappointing to note that the proposals will not benefit unmarried or non-Civil Partnership couples, or siblings who have lived together as in the recent case of the elderly Burden sisters – who had lived together all their lives before one sister faced having to sell the house in her eighties when her sister died.”