Supporting family is one of the most natural things in the world. And when you’re able to help, it can be a wonderful thing to do. The key is making sure your generosity works for everyone, without compromising your own financial future and without affecting your retirement, pension or inheritance tax planning. Whether it’s a …
Inheritance Tax (IHT) continues to make headlines, and for good reason. According to the latest forecasts, the amount collected by the government is expected to reach a record £8.7 billion in the 2025–26 tax year. As property values and investment portfolios grow, more families are finding themselves within the scope of IHT. Increasingly, this is …
Recent IHT changes affect not only farms but also many family-owned trading businesses. Reviewing your estate now can help protect your assets and ensure relief is claimed where available. New thresholds for relief The Government has reversed plans to impose inheritance tax (IHT) on farms worth more than £1 million. When the new rules come …
The UK government collected a record £6.7 billion in inheritance tax during the 2022-23 tax year, driven by rising property and asset values and a static tax-free threshold. According to HM Revenue and Customs, 31,500 estates were liable for inheritance tax in 2022-23, an increase of 13% compared to the previous year. The total tax …
Ever more families are facing inheritance tax (IHT) bills as frozen thresholds push more estates into liability. HMRC took £1.5 billion in IHT receipts in the first two months of the current tax year, according to its latest data. This is an uptick of just under £100 million on the comparative period last year (a …
Inheritance tax (IHT) receipts have hit another record high according to the latest figures from HM Revenue & Customs (HMRC). HMRC collected £8.2 billion from April 2024 to March 2025, a £750 million increase on last year’s record. Data from HMRC, released on 23 April, revealed IHT receipts continue to soar, with higher receipts during …
One in every 42 homes – more than 700,000 – in the UK is now worth more than £1 million, according to new research from estate agency Savills. The vast majority of these – just under 350,000 – are in London while another 160,000 are in South East England. This means one in every 11 …
Inheritance tax (IHT) is one of the most important considerations for anyone with a significant estate they wish to pass on. But far from a rich person’s tax, every year more families are dragged into paying so-called ‘death duties’ thanks to rising asset prices, inflation and the harmful effect of fiscal drag. Fiscal drag is …
Blended families are formed when two people live together with children from previous relationships. They are increasingly common in the UK, and can work extremely well. However it is worth considering the estate planning implications. It is possible to accidentally leave family members without any inheritance due to a lack of planning or appropriate legal …
Labour’s new policy on inheritance tax means that more estates could pay inheritance tax (IHT) in future. Whilst there are plenty of legitimate ways to reduce an IHT liability, there’s one which we often forget despite it being very simple. That’s giving money to your loved ones. Although gifting is simple, and might be something …
