It’s hardly news that, after years of rising asset prices, more people are affected by inheritance tax.
But it may surprise you just how big this issue now is. And advisers have a crucial role to play in helping clients navigate the inheritance tax maze, as this blog post shows.
Well over 40,000 estates now have an inheritance tax liability (Office for Budget Responsibility). More will follow. The Treasury has estimated that, over the next five years, it will pull in an extra £1.2 billion in inheritance tax receipts. That’s an increase of nearly 25% on today’s level.
This is an area where clients value ongoing guidance. Yet some are putting it off. Recent research shows there are three main reasons why this is.