What Consumer Duty means for Business Relief tax planning

BR investments must be held for two years before they qualify for IHT relief

clock • 4 min read

Rebecca Hodges looks at the impact of Consumer Duty on Business Relief for IHT mitigation

With the implementation date for Consumer Duty fast approaching, we consider below how Business Relief (BR)-qualifying services may be impacted by the new regulatory framework. So, what does the new consumer principle "Must act to deliver good outcomes for retail customers" mean when applied to BR? Traditionally, financial plans are considered through the lens of agreeing an objective at the outset. In the BR world, most customers approach the investment seeking a clear objective: mitigation of the impact of inheritance tax (IHT) on their investment upon death. If a client sets out...

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