Financial advisers anticipate a rising demand for Business Relief (BR) solutions from clients engaged in inheritance tax (IHT) planning, following last year’s pre-Budget speculation, according to investment manager Downing.
According to its research, 81% of advisers expect an increase in the proportion of clients using BR for IHT planning, with 10% predicting a significant surge. This comes in the wake of widespread speculation before October's Budget that BR could be scrapped entirely. The uncertainty led 14% of advisers to report substantial client withdrawals from BR schemes, while a further 73% noted that some clients had pulled out of their investments. Only 12% of advisers indicated that the speculation had no effect on client decisions. The October Budget introduced changes to the current 100% BR,...
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