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LATEST NEWS

Bringing you the latest news from the world of Estate Planning

Inheritance Tax reaches £5.7bn in eight months – HMRC (Credit: Jessica O’Connor – The Intermediary 20/12/2024)

Figures released by HM Revenue and Customs (HMRC) show that inheritance tax receipts (IHT) hit £5.7bn in the eight months from April to November 2024. This figure was £600m higher than the same eight months last year and continued the upward trajectory over the last two decades. Last full tax year inheritance tax raised £7.499bn, and currently just one in 20 estates is liable, but the Government suggested that this will increase to one in 10 estates by 2030. Reaction: Nicholas Hyett, investment manager at Wealth Club: “Inheritance tax continues to be the gift that keeps on giving, at least as far as […]

Power of Attorney

One person in the UK develops dementia every three minutes. Yet relatives can’t just walk into a bank and access your money, even if it is to pay for your care. Unless you’ve a Power of Attorney, loved ones would need to apply through court, which can be long and costly. While every effort’s been made to ensure this article’s accuracy, it doesn’t constitute legal advice tailored to your individual circumstances. If you act on it, you acknowledge that you do so at your own risk. We can’t assume responsibility and don’t accept liability for any damage or loss which may […]

Inheritance Tax

How to Leave up to £1 Million to Your Loved Ones Tax Free – Part 1

Inheritance Tax Inheritance Tax (IHT), a daunting pair of words for most people and often accompanied by worries of it being complicated or a way for people to sneak tax-free under the radar… Well, today is the first part of how we can prove this is not the case and that this is how the government intends you to make the most of your tax-free allowance! Although inheritance tax is the most reviled tax, the dreaded 40% that everyone has heard so much about may not actually come into effect at all on your assets, depending on how you plan for […]