Advisers express dismay over IHT Autumn Statement absence

PA speaks to advisers about yesterday’s Autumn Statement

Sahar Nazir
clock • 3 min read

Inheritance tax (IHT) did not emerge as a topic in yesterday’s (22 November) Autumn Statement, despite industry-wide speculation.

Although it was previously reported that Chancellor Jeremy Hunt was considering cutting it from 40% to 20%, he did not mention any changes to IHT in the budget. The tax-cutting statement instead focused on business tax breaks and cuts to National Insurance. IHT will still be charged at 40% for estates worth more than £325,000. The absence of any mention of IHT has prompted diverse reactions from financial advisers, shedding light on potential implications and missed opportunities. Chartered financial planner Alasdair Walker told Professional Adviser that he was not surprised that t...

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

Warning non-dom tax scrap would only dent UK economy troubles

Warning non-dom tax scrap would only dent UK economy troubles

Suggestions of plans for a scrap have been circling in multiple reports

Hope Coumbe
clock 29 February 2024 • 2 min read
Tories planning a scrap of the non-dom tax status — reports

Tories planning a scrap of the non-dom tax status — reports

Jeremy Hunt will deliver his second Spring Budget as chancellor next week

Hope Coumbe
clock 29 February 2024 • 1 min read
Jeremy Hunt set to cut National Insurance in Spring Budget - reports

Jeremy Hunt set to cut National Insurance in Spring Budget - reports

Chancellor expected to cut NI rather than income tax in next week’s speech

Isabel Baxter
clock 27 February 2024 • 1 min read