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

Mony a mickle maks a muckle

clock • 4 min read

IHT exemptions may seem small but understanding the rules and using them effectively, can achieve big results for clients and their beneficiaries, writes Barrie Dawson

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 ...

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