De­vel­oper do­nates to chil­dren’s char­ity

Money will be used to sup­port Childline ser­vice

The Peterborough Evening Telegraph - - Business - By Paul Grin­nell paul.grin­ Twit­ter: @PTPaulGrin­nell

A Peterborough house­builder has dug deep to sup­port the coun­try’s lead­ing chil­dren’s char­ity, the NSPCC. Per­sim­monHomesEastMid­lands, in­Com­merceRoad, Peterborough Busi­ness Park, has do­nated £1,000 to the char­ity.

The do­na­tion is part of the com­pany’s Com­mu­nity Cham­pi­ons scheme.

Bar­bara Elsey, of NSPCC, said: “We rely heav­ily on do­na­tions from busi­nesses and it’s great to see Per­sim­mon show­ing their sup­port.

“Abuse robs chil­dren of their child­hood. With­out help, the scars of abuse can last a life­time.

“One of t he ways t he NSPCC does this is through our Childline ser­vice, which has helped over four mil­lion chil­dren since 1986. This money will go to­wards that in­valu­able ser­vice.”

Si­mon McDon­ald, manag­ing di­rec­tor at Per­sim­mon Homes East Mid­lands, said: “The­work­thechar­ity does in pre­vent­ing abuse across the UK is fan­tas­tic. To op­er­ate on such a large scale I would imag­ine is very costly so it’s vi­tal that busi­nesses show their sup­port with do­na­tions.” . The main change to In­her­i­tance Tax (IHT) this year re­lates to the in­tro­duc­tion of the Res­i­dence Nil Rate Band (RNRB).

The RNRB comes i nto force on 6 April 2017. It is a ma­jor new IHT re­lief and is in ad­di­tion to the or­di­nary nil rate band (which is £325,000 in the 2016/17 tax year). The con­di­tions for claim­ing the RNRB are com­pli­cated. The RNRB ap­plies to an in­ter­est in a home which has been the res­i­dence but it does not ap­ply to life­time gifts. The re­lief is only avail­able upon death.

In or­der to qual­ify for the RNRB the de­ceased per­son must leave the in­ter­est in the home to be “in­her­ited” by a “lin­eal de­scen­dant”.

A lin­eal de­scen­dant is de­fined in the leg­is­la­tion, but prob­lems arise in that for the re­lief to ap­ply the in­ter­est in the home must be ei­ther left out­right to a “lin­eal de­scen­dant” or to cer­tain types of trust. The RNRB com­mences at £100,000 in 2017/18 and in­creases in in­cre­ments to £175,000 in 2020/21 but­canbe lost if the es­tate value ex­ceeds alimit. TheRNRBisavalu­able re­lief and to en­sure you max­imise the tax-sav­ing ef­fect I would rec­om­mend that you re­view your Will with a Solic­i­tor who spe­cialises in Wills.

Si­mon McDon­ald, manag­ing di­rec­tor of Per­sim­mon Homes East Mid­lands.

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