Wednesday, 20th August 2008
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Latest News
New Long Term Care Means Test Thresholds
The thresholds used for assessing an individuals ability to fund Long Term Care for the year 2008-2009 are:
If you have total assets over £22,250 you will be required to fund your own care, possibly through the sale of your home. If you have total assets below £13,500 your care will be funded by your Local Authority. Between the two thresholds you would receive some state help.
Changes to Inheritance Tax thresholds
The Inheritance Tax thresholds for the year April 2008-2009 is £312,000. This is referred to as the Nil Rate Band allowance.
Each individual has the right to leave the first £312,000 tax free, with any assets over this amount taxable at 40% (with the exception of gifts to spouse/Civil Partner). For further information email info@dovedon.co.uk 
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