Member News

Darling's clever sleight of hand on Inheritance Tax

Peter Harrup, tax expert at PKF East Anglia, has admitted grudging admiration for the Chancellor's highly creative response to the Tories' plan to raise the inheritance tax threshold to £1 million.

Mr Harrup, a partner at the firm that has offices in Ipswich, Norwich and Yarmouth, said: "The vote-winning potential of the Tories' election-busting IHT proposal certainly stirred up Darling's creative juices.

"By doubling the inheritance tax threshold for married couples and civil partnerships to £600,000 immediately and to £700,000 by 2010, he has not only stolen the Tories' thunder but will ease the tax burden for millions of hard-working families."

This doubled inheritance tax allowance will also be back-dated indefinitely for the UK's three million widows, widowers and bereaved civil partners.

Article by BDO LLP

BDO is the award-winning UK member firm of the BDO international network, the world's fifth largest accountancy organisation, with more than 1,000 offices in over 100 countries.

  • Assurance and advisory
  • Taxation
  • Business Support Services
  • Corporate Finance, Corporate Recovery & Insolvency

Local expertise backed up by resources of a national firm.

With more than 3,500 talented people we are advisers to ambitious businesses, providing exceptional service worldwide through our international network.

From the core audit and tax services, to a wide range of advisory practices, we offer the breadth of services you would expect from one of the world's largest accountancy networks.

A recognised Investor in People, BDO Ipswich can also, through the firm's FSA authorised company PKF Financial Planning Limited, offer specialised financial services.