Protection specialists have told Professional Adviser that more clients are considering whole of life policies to reduce inheritance tax (IHT) bills.
IHT bills have continued to creep up, with latest receipts hitting £8.2bn for April 2024 to March 2025, marking the fourth consecutive record year. The figure shared by HM Revenue & Customs outstripped 2023/24's £7.5bn total by £750m, or 10%. Many financial services watchers anticipate that IHT will continue to bring in more for the Treasury over the coming years, buoyed by a combination of frozen thresholds, rising property taxes and Autumn Budget changes set to see pensions come into scope for IHT from April 2027 alongside April 2026 updates to business property and agricultural relief...
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