ISA rules and inheritance tax

ISA rules and inheritance tax

Families set to pay millions in unnecessary tax

There’s a fundamental lack of awareness and understanding around Inheritance Tax, especially when it comes to how Individual Savings Accounts (ISAs) are treated after death. Given that some people have been able to amass over a million pounds in their ISAs, it’s an area where lack of knowledge could prove costly.

Protecting your estate for future generations

Protecting your estate for future generations

Many individuals find the Inheritance Tax rules too complicated

If you struggle to navigate the UK’s inheritance tax regime, you are not alone. Whether you are setting up your estate planning or sorting out the estate of a departed family member, the system can be hard to follow. Getting your planning wrong could also mean your family is faced with an unexpectedly high inheritance tax bill.

Reluctant to seek professional advice

Wealth preservation

Wealth preservation

Reducing Inheritance Tax means taking action now.

Without professional advice and careful financial planning, HM Revenue & Customs (HMRC) can become the single largest beneficiary of your estate following your death. A recent survey about Inheritance Tax (IHT)[1] shows that wealthy Britons over the age of 45 are either ignoring estate planning solutions or they have forgotten about the benefits these can provide. Only 27% of those surveyed have taken financial advice on IHT planning, despite all of them having a potential IHT liability.

Your wealth. Your legacy

Your wealth. Your legacy

Families shying away from difficult conversations

If you have significant assets, you may be wondering whether inheritance tax (IHT)  affects you. Worryingly, some families appear to be shying away from difficult conversations, as almost half (47%) of uk adults say they have never discussed inheritance matters, according to new research.

IHT receipts increased by 22.9% in the first quarter of this tax year, according to data from the Office for National Statistics. The figures show that more than £2 billion has been taken from people’s estates in IHT since March.

Inheritance Tax Rule Changes

Inheritance Tax Rule Changes

Effective estate planning can safeguard your wealth for future generations.

If you want to have control over what happens to your assets after your death, effective estate planning is essential. After a lifetime of hard work, you want to make sure you protect as much of your wealth as possible and pass it on to the right people. However, this does not happen automatically.

If you do not plan for what happens to your assets when you die, more of your estate than necessary could be subject to inheritance tax.