Category: Inheritance

With the potential inclusion of pensions in the taxable estate from 2027, Inheritance Tax receipts are set to increase significantly. This is driving a corresponding increase in demand for estate planning advice. One area which has seen a particular uptick in activity has been gifting and especially gifting out of income exemption. This stems largely from concerns about pension funds becoming subject to Inheritance Tax and

As the saying goes, it’s better to give than to receive. But did you know that along with the pleasure of seeing your loved ones enjoy your gift you can also reduce inheritance tax at the same time? However, to avoid potential pitfalls, you’ll want to understand the rules first. Know what’s defined as a gift What counts as a

Taking the time to align your final wishes with your loved ones can avoid unnecessary confusion, conflict, and heartache. Here’s a closer look at the benefits. Foster understanding and clarity Discussing your will with loved ones ensures everyone understands your intentions, the reasons behind your decisions, and the roles they might play. For those named as executors, trustees, or powers

With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can ease any inheritance planning anxieties and facilitate the transfer of assets in the way that you want. ‘Great wealth transfer’ The next

With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can ease any inheritance planning anxieties and facilitate the transfer of assets in the way that you want. ‘Great wealth transfer’ The next

Latest information from HM Revenue & Customs (HMRC) revealed IHT receipts for April 2021 to March 2022 were £6.1bn, 14% (£0.7bn) higher than in the same period 12 months earlier. Factors at play Receipts have increased partly due to higher death rates during the pandemic, as well as due to the rise in property prices which has seen more families