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

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