Inheritance tax receipts for April 2021 to February 2022 hit a new record high of £5.5bn.
Families could be paying an avoidable tax bill of more than £80,000 because parents are too embarrassed to talk to their children about their financial future, according to new research.
Over the last few weeks there’s been a fair amount of noise regarding IHT reforms. First we had The Office of Tax Simplification (OTS)’s call for evidence, and more recently the Intergenerational Commission (IC)’s “Passing on” report on options for reforming IHT.
Suffolk Life has launched a bypass trust for all its Sipps to cut out possible inheritance tax risks.