Developer donates to children’s charity
Money will be used to support Childline service
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.