IHT Reforms ‘on the table’
Inheritance Tax doesn’t affect the vast majority of us but what is clear is that the current outdated rules are in need of a considerable overhaul. Proposals have been submitted to Parliament for debate and consideration, the question is, when will we hear? At least when they choose a new Pope you get a plume of white smoke!
Anyway, here’s a link to the STEP website where you can actually read the APPG’s report, that’s the All Party Parliamentary Group, if you’re interested to see what they proposed.
We are all responsible for our own affairs, so I would encourage you to keep a watchful eye on how this develops, to know how best to consider changing our own inheritance planning going forwards. Oh, and just because you may not have an Inheritance Tax estate now, doesn’t mean you won’t in the future. Remember, you can only make plans when you know the landscape so until we hear of any changes, sit tight and keep your eyes open.
If you would like any help with Inheritance Tax under the current rules, please get in touch here.
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