News

New ISA death benefits

Helen Vorley, F.CILEx Fellow of the Chartered Institute of Legal Executives in Astle Paterson’s Wills & Probate department discusses a tax break for couples and their ISAs.

Helen said “It appears to have gone unnoticed by a good number of people, but as of 3rd December 2014 a person, on their death, can effectively pass their ISA to their surviving spouse or civil partner.

Prior to this date their ISA had to be closed and became subject to tax.

Under the new rules the surviving spouse will be able to open a new ISA in their name from the proceeds of their spouses ISA or use that money to top-up their existing ISA so that it remains free from income tax or capital gains tax.

As well as having your own ISA allowance you will also have an additional allowance from the ISA that you inherit.”

Helen concluded “Couples should check their Wills to ensure that their ISAs are left to each other in order to benefit from this tax break.”

At Astle Paterson we are best placed to advise on planning for your future.  Please contact Helen Vorley of Astle Paterson’s Wills & Probate department on either 01283 531366 or by way of email at hvorley@astlepaterson.co.uk to discuss matters further.

Back to News

More News from Helen

Local lawyer warns changes to powers of attorney may leave older and vulnerable at risk

Local Legal Executive, Helen Vorley from Astle Paterson of Horninglow Street, Burton upon Trent issues warning following FCA’s call to ...

Read More
A shortage of burial plots in Staffordshire and South Derbyshire?

Helen Vorley, of Astle Paterson’s Wills & Probate department discusses why making enquiries about your burial plot now may give you peace ...

Read More
Astle Paterson offer urgent warning about Government’s ‘risky’ online Lasting Powers of Attorney legal tool

Helen Vorley of Astle Paterson’s Wills & Probate Department and member of Solicitors for the Elderly (SFE) has joined a number of ...

Read More
Unemployed daughter fails to get any money from her late father’s estate

Helen Vorley of Astle Paterson’s Wills & Probate Department and member of Solicitors for the Elderly (SFE) discusses the case ...

Read More
The importance of obtaining a full survey when ascertaining the probate value of a house

Helen Vorley, F.CILEx Fellow of the Chartered Institute of Legal Executives in Astle Paterson’s Wills & Probate department, discusses the importance ...

Read More
Helen Vorley urges the U.K. to safeguard wishes in the event of accidents or illness like dementia

86% of people in the East Midlands are currently living with no control over important later-life decisions around their housing, ...

Read More
Connect with Astle Paterson

Connect

Book an Appointment
Book an appointment
Burton on Trent Uttoxeter
Astle Paterson Accreditations

Business & Commercial   •   Conveyancing   •   Family   •   Litigation   •   Wills, Inheritance Tax & Probate   •   Employment