• Skip to main content
  • Skip to footer
Mullen Stoker

Mullen Stoker

Chartered Accountants in Durham

Call Us Now 0191 374 0300

  • Facebook
  • LinkedIn
  • Phone
  • Twitter
  • Services
    • Accountancy & Tax
    • IT Solutions
    • Business Services
  • About Us
    • Our Story
    • Our Team
  • News and Views
  • Online Resources
    • Calculators
    • Tax Rates & Tables
    • Downloadable Forms
    • Tax Application
  • Testimonials
  • Contact
  • Client Login

Inheritance Tax Planning using the new Lifetime ISA

Budget 2016 announced a new “Lifetime ISA” that will be available to those aged between 18 and 40 from 6 April 2017. The Government will add 25% to the amount saved subject to a maximum of £4,000 a year (plus £1,000 from the Government). It seems there will be no requirement that the savings come from the person named on the account so parents, grandparents, or other relatives could make payments into the account.

Where you have excess income and have concerns about inheritance tax (IHT), what about taking advantage of the exemption for normal expenditure out of income by committing to regular payments into the account. £4,000 a year would save you £1,600 IHT, so £2,400 net turns into £5,000 gross, per recipient!

Category iconInheritance Tax

Xero Gold Partners
ICAEW Chartered Accountants
Clear transparent pricing champions

Footer

LATEST NEWS

  • How artificial intelligence is changing accountancy 19th June 2025
  • New identity verification rules at Companies House 17th June 2025
  • Hospitality sector to benefit from savings 12th June 2025

INFORMATION

Sunderland Accountancy

Durham Accountancy

South Shields Accountancy

Newsletter

Business & Tax News

The Budget

ABOUT US

We bring a fresh, dynamic and friendly approach to Accountancy services. We are proud to say you will not find Mullen Stoker to be a stereotypical Accountancy Practice as we have new ideas, add value to what are known to be more traditional accountancy services and are able to provide high quality IT Solutions

We use telephone tracking numbers to link a user’s call to the marketing channel that they originated from. This is done using cookies, you can choose to decline cookies using your browser settings if you would prefer not to be tracked. We may record calls for training or monitoring purposes.

This firm is not authorised under the Financial Services and Markets Act 2000 but we are able in certain circumstances to offer a limited range of investment services to clients because we are members of the Institute of Chartered Accountants in England and Wales. We can provide these investment services if they are an incidental part of the professional services we have been engaged to provide.

Copyright © 2025 Mullen Stoker Chartered Accountants · Privacy Policy · Terms & Conditions