With house prices continuing to rise and following the Chancellor’s freezing of the inheritance tax (IHT) threshold for the next five years, increasing numbers of estates will become subject to IHT. Yet more than 50% of adults over 55 in the UK do not have any idea of how their estate will be taxed. While we may not relish looking towards the end of our lives, estate planning can help support your loved ones when you are no longer around. This edition looks at the current inheritance tax rules and how they are likely to change in the near future.
Other stories for this edition include:
We are happy to talk you through any of the issues addressed in our newsletter. Our next edition will be with you in the autumn when we will be anticipating the Chancellor’s next moves in the second Budget of 2021.
We hope that the introduction of our new technology has helped you feel connected and that you are finding our Wealth Platform and the video calls of benefit. With the long-awaited lockdown restriction announcement on 19 July, we hope that we will soon be able to meet more of you face-to-face if you are comfortable with meeting, although of course video calls remain available.