Paul Wilcox: The great 'do I, don't I' ISA dilemma

IHT’s sting in the tail

clock • 4 min read

He may be a great supporter of government initiatives to encourage investment but, each time he puts money in an ISA himself, Paul Wilcox is only too aware of the potential price his family may pay for this privilege

Once again the ‘ISA season' is just around the corner and, in common with many investors I will shortly be making that difficult decision as to whether to put more money into ISAs. Or not. With all the benefits of ISAs and the increasing flexibility of this much-heralded ‘tax-efficient' form of investing, you may wonder why the dilemma. Well, while I am a great supporter of government initiatives to encourage investment, I am only too aware of the potential price my family may pay for this privilege. What price? The 40% in inheritance tax (IHT) when my estate passes to my family, of c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

PA360: AIM investments should be 'more than an IHT planning option'

PA360: AIM investments should be 'more than an IHT planning option'

How AIM is becoming more mainstream in financial planning

Jenna Brown
clock 26 April 2024 • 2 min read
Inheritance tax receipts hit a record of £7.5bn as 2023/24 year ends

Inheritance tax receipts hit a record of £7.5bn as 2023/24 year ends

‘IHT is the tax gift that keeps on giving as record receipts have been banked’

Hope Coumbe
clock 23 April 2024 • 2 min read
Don't let these five tax changes slip through the advice net

Don't let these five tax changes slip through the advice net

Changes to tax policy advisers need to be aware of

David Downie
clock 18 April 2024 • 3 min read