Rachel Stewart’s Post

Following on from my post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/et9NY4vd - the prediction that we would see another record-breaking year come April 2024 was correct… Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #inheritancetax #planahead

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/eB3z_S6k - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #iht #taxplanning

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/eQBUUv4m - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #iht #taxplanning

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/eQBUUv4m - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #iht #taxplanning

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/ea2Wp2sP - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #iht #taxplanning

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/eKyN7h65 - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the United Kingdom amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 Sourcing the right advice to clarify the intricate rules of Inheritance Tax for you and your family will help maximise the wealth you leave to your loved ones. Planning ahead is 🔑 #iht #taxplanning

Following on from our post back in February on the Inheritance Tax collected by HMRC in the first nine months of 2023 - https://lnkd.in/eAn7d_dY - we were correct in predicting that we would see another record-breaking year come April 2024... Inheritance tax receipts in the UK amounted to approximately £7.5 billion in 2023/24, compared with £7.09 in the previous financial year 😮 We can clarify the intricate rules of Inheritance Tax for you and your family and help maximise the wealth you leave to your loved ones. Start planning ahead ➡ https://lnkd.in/eQFkVmf6 #iht #taxplanning 

🧾£7.5 billion left to a stranger by the UK population in 23/24?! 😮 In the financial year 2023/24, the UK saw a staggering £7.5 billion collected through inheritance tax (IHT). This significant figure serves as a crucial reminder of the importance of proactive inheritance tax planning. Would you leave a portion of your estate to a complete stranger? I highly doubt it, so why not protect it from inheritance tax? While inheritance tax planning may not directly impact your day-to-day life, it can profoundly influence the financial future of your beneficiaries. Effective planning can ensure that a greater portion of your hard-earned assets is preserved for your loved ones, rather than being lost to taxation. Don’t wait until it’s too late. Take action now to explore your inheritance tax planning options. Consult with a financial adviser to tailor a plan that aligns with your unique circumstances and ensures your beneficiaries reap the maximum benefits. Graph source – Statista 2024 #InheritanceTaxPlanning #FinancialPlanning #WealthManagement #EstatePlanning #UKTax #FinancialSecurity #LegacyPlanning

Inheritance tax (IHT) is a critical aspect of estate planning in the UK. It can significantly impact the wealth passed on to your loved ones if not managed effectively. Proper inheritance tax planning ensures that your estate is distributed in line with your wishes and minimises the tax burden on your beneficiaries. Inheritance tax is currently charged at 40% on the value of an estate above the tax-free allowance, known as the 'nil-rate band' (currently £325,000). For many families, especially those owning property, inheritance tax can be a costly surprise. However, with proactive planning, you can reduce or even eliminate the amount of tax due. Contact me for more information as there could be changes in the forthcoming budget next month. #InheritanceTaxPlanning #IHT #NilRateBand #WealthPreservation

Excellent breakdown, Martha! Your insights on EIS, SEIS, and VCT schemes in relation to Inheritance Tax (IHT) planning are spot-on and incredibly valuable for our clients. At Tax Hub, we'd like to emphasize a few key points: 1. BPR is indeed a powerful tool, but it's crucial to ensure investments maintain their qualifying status. We help clients monitor this closely. 2. The estate reduction aspect is often overlooked. It's a double benefit - immediate tax relief plus potential long-term estate value management. 3. Gifting through these schemes can be particularly effective for passing wealth to the next generation tax-efficiently. Your cautionary note is vital. While the tax benefits are attractive, we always stress to our clients that the investment case must stand on its own merits. These are high-risk investments and should form part of a balanced portfolio. We'd add that the interplay between these schemes and other IHT planning tools (like trusts or lifetime gifting) can create powerful, bespoke strategies for our clients. Remember, everyone's situation is unique. We encourage seeking personalised advice to ensure these tools are used optimally within an overall financial plan. Great job highlighting these important considerations, Martha. It's this kind of nuanced understanding that helps our clients navigate the complex world of tax-efficient investing.