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As we look towards the next Autumn Statement, speculation surrounding mammoth holes in public finances and what the new Labour government might do about them is inevitably mounting. Unsurprisingly, Inheritance Tax (IHT) has once again come under the spotlight as a means of topping up the Treasury’s coffers. This being said, IHT is certainly not going away and nothing is currently confirmed, so when it comes to estate planning, inaction comes with a price. HMRC’s latest statistics show a record IHT take of £5.99 billion in 2021/22, a 4% increase from the previous year, driven by wealth transfers and rising asset values. Projections by the Office for Budget Responsibility suggest IHT could reach £9.7 billion by 2028/29. This latest industry update therefore comes at a critical time to help the financial planning community navigate the landscape with all the latest technical insights and knowledge.