Coach The Flyer Travel
RICHMOND ’ S COACHES
Classical Spectacular
The most popular classical music show in the UK ‘ Classical Spectacular ’ returns to the Royal Albert Hall in November . No other show presents such a magnificent combination of the very best in classical music and state of the art technology ranging from a flood of pure white light to electrifying multi-coloured laser displays , the dazzling special effects bring to life the scenes and moods evoked by each glorious piece changing the way you experience classical music forever .
Music performed by the Royal Philharmonic Orchestra includes Greig , Rossini , Jenkins , Bizet , Holst , Suppe , Tchaikovsky , Sousa , Verdi , Handel , Parry , Sibelius , Pachelbel . Land of Hope and Glory , Nessun Dorma , Rule Britannia ! and the 1812 Overture with thundering cannons and indoor fireworks .
The Richmonds coach trip on Sunday 25th November includes a two course Carvery lunch at the Strand Palace Hotel including tea / coffee followed by a 3pm matinee performance at the Royal Albert Hall .
Take a trip with Richmond ’ s Coaches and glide into London from Saffron Walden on a modern air-conditioned coach with great leg-room and reclining seats . You will be dropped off outside , or very near your theatre , with time to get some refreshments before your show . Take your seats in the theatre ( we get great discounts but only offer excellent seats in the stalls or dress circle ) and enjoy the show . Your coach will be waiting outside again to whisk you home . No more taxis , tubes or trains !
Inheritance Tax and the Family Home
The rules governing how much you can pass on tax-free at death have been changing recently and result in lower Inheritance Tax ( IHT ) liabilities being payable on some Estates .
The then Chancellor , George Osborne , announced the changes in his Summer 2015 Budget , effective from April 2017 . He introduced a new allowance for those who own their home and want to leave it to their “ direct descendants ”.
The changes in detail
Everyone is already entitled to pass on an Estate of up to £ 325,000 tax free , the “ nil-rate band ” ( NRB ). Any additional Estate value above this amount incurs IHT at 40 %. Married couples and civil partners are entitled to offset twice the value of this allowance , or £ 650,000 , against their combined Estate before IHT is payable .
From 6 April 2017 , there has also been a new tax-free allowance for people who own a home , called the “ residence nil rate band ” RNRB . It will eventually ( see below ) be worth an additional £ 175,000 per person and so , when combined with the standard £ 325,000 allowance that everyone gets , this means a total allowance for home owners of £ 500,000 , doubling to £ 1m for married couples and civil partners . This new allowance will also be transferable to the survivor within these eligible couples , even if one spouse or partner has died before its introduction in 2017 .
The RNRB will be introduced in stages over four years as follows- £ 100,000 in 2017 / 18 , £ 125,000 in 2018 / 19 , £ 150,000 in 2019 / 20 and £ 175,000 in 2020 / 21 . There is a restriction however and Estates valued at more than £ 2m will lose some or all of the RNRB , it will be withdrawn at a rate of £ 1 for every £ 2 over this £ 2m “ taper threshold ”. Also , if the home is worth less than the new allowance (£ 175,000 for a single person or £ 350,000 for eligible couples ) then the surplus allowance cannot be offset against the rest of the Estate .
The Chancellor announced that the RNRB and taper threshold will increase in line with inflation from 2021 / 22 as measured by the consumer prices index ( CPI ). The general £ 325,000 NRB will also remain frozen until at least the end of 2020 / 21 , although there is nothing to stop subsequent Chancellors changing the rules in later Budgets , so we will update you in a later month if necessary !
Eligibility
To qualify for the RNRB , the property must have been the main home at some point and must be left to one or more direct descendants . This includes children , step-children , adopted children , foster children , and grandchildren , but not other relatives such as a nieces and nephews .
If there is more than one property in the estate , only one will qualify for the RNRB .
If a home is sold or downsized on or after 8th July 2015 , the RNRB will still be available as long as assets of an equivalent value are passed to direct descendants , and so some record keeping will be required to ensure all or some of the allowance is not lost in this situation .
FOR AN INTRODUCTORY , NO OBLIGATION CHAT , PLEASE CONTACT EITHER
JEREMY FOZZARD or MARK WILLIAMS
Telephone : 01279 658 499 Email : info @ mansellandco . org
5 Ducketts Wharf , South Street ,
Bishop ’ s Stortford , CM23 3AR Tel : 01279 658499
Fax : 01279 758190 www . mansellandco . org
6 THE FLYER | JUNE 2018
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