IHT planning in action: Small amounts add up to make a big difference

The Office for Budget Responsibility has forecast that inheritance tax (IHT) receipts will continue to rise and by 2028/29 will total £9.7bn a year, up from £7.5bn in 2023/24. As more and more estates are set to pay IHT, financial advisers have an increasingly important role in helping clients to plan tax-efficiently for their and their family's long-term financial futures, in a way that suits their individual circumstances. While the annual £250 and £3,000 IHT exemptions may seem small, understanding the rules and using them effectively, can achieve big results for clients and their ...