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The existing inheritance tax exemption for medals and other

decorations for valour or gallantry is being extended, from

3 December 2014, 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, as

announced in the Autumn Statement 2014.

Annual tax on enveloped dwellings (ATED)

The ATED charges will increase by 50% above inflation for

residential properties worth more than £2 million for the

chargeable period 1 April 2015 to 31 March 2016, as announced

in the Autumn Statement 2014.

The related capital gains tax charge on disposals of properties

liable to ATED will be extended from 6 April 2015 to residential

properties worth over £1 million and up to £2 million. From

6 April 2016 the charge will apply to residential properties

worth over £500,000 and up to £1 million. These changes were

announced in the Budget 2014.


Gift Aid small donations scheme

The maximum annual donation amount that can be claimed

through the Gift Aid small donations scheme will increase from

£5,000 to £8,000. This will take effect from April 2016, allowing

charities and Community Amateur Sports Clubs to claim Gift Aid

top-up payments of up to £2,000 a year.

Charity authorised investment funds

The government is working with the Financial Conduct Authority

(FCA), the Charity Investors’ Group and the Charity Commission

to introduce a new Charity Authorised Investment Fund structure.

This will bring new investment funds established for charitable

purposes under FCA regulation, ensuring that they receive the

same regulatory oversight and protections as funds for retail



18 March 2015

page 10

think ahead

Review your will.

It may

become harder for your

family to rewrite the will

using a deed of variation.