Inheritance tax concerns for wealthy Brits consistent and rising

Level of concern around IHT has risen noticeably since last year

Sahar Nazir
clock • 1 min read

Inheritance tax (IHT) is still one of the top financial concerns for wealthy Brits, RBC Wealth Management says.

This is according to research conducted in collaboration with Kantar Media in October 2023 with 600 respondents with a minimum of £500,000 in investible assets. IHT, along with gifting and not knowing how much is enough to maintain their lifestyles in later life, are the top three financial concerns. The research found that the level of concern around IHT has risen from last year, jumping from 27% to 35%. This is equivalent to a 12% and 16% year-on-year rise for 25-34-year-olds and 55-65-year-olds respectively. The poll also found that respondents are concerned about gifting withou...

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 Your profession

AJ Bell calls on govt to merge cash and stocks and shares ISAs

AJ Bell calls on govt to merge cash and stocks and shares ISAs

The merger would be the first step in achieving a single ‘One ISA' regime

Valeria Martinez
clock 15 July 2024 • 2 min read
Premier Miton confirms MPS launch timeline

Premier Miton confirms MPS launch timeline

Group also reported AUM up 8% since opening position

Jen Frost
clock 15 July 2024 • 2 min read
Advisers urged to keep client communications simple and intuitive

Advisers urged to keep client communications simple and intuitive

‘This becomes more important over time as their life changes’

Isabel Baxter
clock 15 July 2024 • 1 min read