The cost of dying

May 8, 2024
Nearly half (48%) of adults aged 18 to 40 don’t have life insurance1. This puts many in a precarious position, as the unfortunate reality is that the cost of dying is high. Research has found that a premature death can cost surviving family members an [...]
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The complexities of succession planning

November 16, 2023
Succession, the hugely popular TV show, highlights the complexities of wealth transfer. There’s a lot to think about when passing on your wealth – as well as the risk of family disputes, tax implications need to be taken into consideration. Preserving, planning and communication As [...]
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On the trail of unpaid IHT

May 23, 2023
HMRC has set up a new specialist team to target estates of wealthy deceased individuals in order to check whether a greater Inheritance Tax (IHT) liability may have been due than originally calculated by estate executors. This clampdown has seen record amounts of unpaid tax [...]
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Estate planning update

November 4, 2021
HM Revenue & Customs (HMRC) published its annual statistics on Inheritance Tax (IHT) in late July, revealing that IHT payments in the 2020-21 tax year totalled £5.4bn, up around £0.2bn (almost 4%) on the previous year, when receipts were slightly lower than 2018-19. Typically, more [...]
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Is IHT change on the cards?

August 11, 2021
It’s been three years since then-Chancellor Philip Hammond asked the Office of Tax Simplification to look into potential amendments to the Inheritance Tax (IHT) regime*. Since then, no changes have been made to the tax incurred when wealth passes onto the next generation; could Rishi [...]
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IHT – under the spotlight

February 12, 2019
According to figures from HM Revenue and Customs, Inheritance Tax (IHT) revenues are up again, with £5bn being paid in the 2017–18 tax year. This increase comes despite the introduction of the residence nil-rate band in 2017. With more families falling into the IHT bracket, [...]
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Tax traps the bank of mum and dad should avoid

July 26, 2018
With the Bank of Mum and Dad regularly helping to finance property transactions for their offspring, it’s important for parents to be aware of the tax consequences of doing so. Research has shown that scammers frequently search for information in social media profiles, emails and [...]
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Why IHT planning matters

December 8, 2017
The amount of revenue that the government raises from inheritance tax (IHT) continues to rise year by year. In 2016- 17, the figure rose again to over £4.9bn1, with experts expecting it to be even higher in this financial year. Controversially, the threshold at which [...]
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Lifetime ISAs growing in popularity

December 8, 2017
Despite a relatively low-key launch, the Lifetime ISA, or LISA as it is often referred to, is proving popular with young savers. So far, 28,000 savers have opted for the cash edition of the product and early indications are that the stocks and shares version [...]
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U turn on probate fees

July 3, 2017
Ahead of the general election, the government postponed plans for a sharp rise in probate fees. Obtaining a grant of probate is the process by which someone is given authority to deal with the property, money and possessions of a person after they die. It [...]
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