TRICIA PHILLIPS

Inheritance tax easing is no benefit for homes in trust

RECENTLY you said anything ’over £325,000 was liable to inheritance tax.’ But hasn’t that been increased? We have several properties that go into trust for the family until we both die.

AYOU’RE right, the Government introduced the Main Residence Nil Rate Band which can increase the threshold by a further £175,000 each by 2020-21.

However, not everyone qualifies, only one home can be used against the inheritance tax property allowance and it doesn’t include most properties in trust.

QMY daughter is saving into a Help to Buy ISA, but they’re closing. Should she transfer this to a Lifetime ISA – or can she carry on saving until she has her deposit together? It’s going to take a few years to get there.

ASHE can continue to pay into the Help to Buy ISA until November 2029. These ISAs were closed to new applicants in late November 2019.

QPEOPLE usually receive the payment automatically if they have reached the qualifying age which means they were born on or before April 5, 1954. It may need to be claimed by people who have not received it before, and those who do not get a state pension or benefits or who deferred their State Pension. The Winter Fuel Payment Centre is on 0800 731 0160.

QWE have a holiday booked to Italy next month. Will we be able to cancel and get our money back? We feel worried as coronavirus cases keep increasing.

ATHIS will depend on where you are travelling to, and whether the Foreign and Commonwealth Office has issued advice against all but essential travel to that area. If so, travel firms will cancel flights and holidays and issue refunds. Contact your travel agent or holiday provider to check.