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Otley: 01943855700  Mob: 07918167134  email: amy@bfandsl.co.uk

Work Smarter, Increase Profitability, Re-Invest Wisely

We’ll help you develop clear long, medium and short term goals for what you
want to achieve and develop a roadmap to get you there.

Tailored Advice For Your Business Needs

We act for a wide range of businesses and offer services and packages
ideally tailored to suit your requirements.

Inheritance Tax

The inheritance tax (IHT) nil rate band will remain frozen at £325,000 until April 2021, and the rates of IHT payable on death remain unchanged at 40% or 36% where at least 10% of the net estate is left to charity.

The government will consult on extending the existing IHT exemption for the estates of members of the armed forces, whose death is caused or hastened by injury while on active service, to members of the emergency services.

An additional nil-rate band (the ‘residence nil rate band’ (RNRB)) was introduced from 2017/18 and applies when a residence is passed on death to direct descendants.The RNRB is being phased in between 2017/18 and 2020/21 as follows:

  • £100,000 in 2017/18
  • £125,000 in 2018 /19
  • £150,000 in 2019/20
  • £175,000 in 2020/21

The value of RNRB is tapered away at £1 for every £2 by which the value of the total estate exceeds £2 million.

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All initial consultations are free of charge. We are here to help young and growing as well as established businesses to realise their full potential.

We believe that all entrepreneurs have an inherent genie which we try to help them realise to release.