2nd October 2017
Prudential: Language of Inheritance Tax (IHT)
It's well documented that Inheritance tax (IHT) receipts are on the rise and are projected to continue to do so.
Rising asset values and the frozen nil rate band are 'to blame'. Rising property prices are often quoted, and whilst a factor there's a bit more to it than that.
When you dig into the IHT statistics a bit deeper you will find a story of cash, securities and life policies being a not insignificant percentage of the taxable estate. Given these are readily realisable and / or transferrable to others there must be an element of lack of planning.
The thought of IHT tax planning, chargeable lifetime transfers and Potential Exempt Transfers (PETs), exemptions and lifetime gifts may be daunting but also it's not very interesting is it?
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