Monday, 26 May 2008

Inheritance Tax exemption for military families

British soldiers and other members of the armed forces injured while serving in Afghanistan or Iraq are being advised to keep copies of their medical records as their families could be exempted from paying inheritance tax (IHT) in future.
The beneficiaries of people in their 80s or older who died from a condition related to their active service in the Second World War are able to claim this exemption, although many families may not be aware they can do so because of a lack of professional advice.
So there are some tax benefits available to service families, then - the only trouble is, you have to wait 50 years to get them!