IHT planning strategies outdated - WAY Group

The investment management firm says statistics suggest 90% of 70-year-olds will live for the minimum seven years required to qualify for IHT relief, meaning they will not need to take advantage of any discount on their initial gift. “The standard approach to IHT planning is outdated and belongs to an age when products were extremely basic,” says WAY Group chairman and technical director Paul Wilcox. “Clearly a discount value to any amount gifted is essential for the ten per cent of 70-year-olds who will not make it through the seven year period before gifts fall out of account. “But we a...