With both the Inheritance Tax (IHT) nil-rate band and residence nil-rate band remaining frozen at existing levels until April 2026, at £325,000 and £175,000 respectively, many families are already receiving hefty IHT bills. The increase in receipts has been attributed to the big freeze in allowances, rising estate values and the sad increase in deaths among those over 60 due to the pandemic.
If you’re concerned about IHT, here are a few things to think about…
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.