INHERITANCE TAX (IHT)
EXEMPTION FOR MEDALS AND AWARDS
The existing IHT exemption for medals and other decorations that are awarded for valour or gallantry is to be extended. From 3 December 2014, this applies to all decorations and medals awarded to the armed services or emergency services personnel, and to awards made by the Crown for achievements and service in public life.
EXEMPTION FOR EMERGENCY SERVICES PERSONNEL AND HUMANITARIAN AID WORKERS
The IHT exemption for members of the armed forces whose death is caused or hastened by injury while on active service will be extended to members of the emergency services or humanitarian aid workers responding to emergency circumstances. This extension is to have efect for deaths on or after 19 March 2014.
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