Anecdotal evidence seems to indicate that few advisers are working on Inheritance Tax mitigation at the present time and yet, in reality, the credit crunch has generated the best environment for such planning for many years.
Whilst it is true that the transferable Nil Rate Band has taken a number of more modestly wealthy individuals out of the IHT trap, the number of taxpayers likely to pay this tax still appears to be substantial. Of course, advisers are saying that their wealthy clients are more taken up with repairing their personal balance sheets (after the hits they have taken from the credit crunch and stock market rout) than they are with mitigating tax. This is, however, a foolish approach since the credit crunch and its impact is temporary whilst the prospect of gifting one's hard earned wealth to the ...
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