Advisers are increasingly having conversations centred around inheritance tax (IHT) and passing on wealth as they look to get ahead of client “fear” and “poor behaviours”, according to St James’ Place (SJP) head of advice Claire Trott.
"Any change drives advice," Trott told PA. "And this is a big change." Pensions have traditionally been outside the scope of IHT but as of 6 April 2027 they will be subject to the tax. While this will not impact all clients, it will affect those who were using pensions to pass on wealth tax free. Trott noted: "There's quite a lot of fear out there for clients, whether they're impacted or not. Unfortunately, this can drive poor behaviours." This is where advice becomes important as advisers can offer explanations that can prevent clients from making any knee-jerk reactions. Th...
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