Inheritance Tax (IHT) is a key consideration in estate planning, affecting how your assets are passed to beneficiaries. Recent UK legislative changes include:
Threshold Freeze: The IHT threshold remains at £325,000, extended until 2030. Estates above this amount face a 40% tax on the excess.
Pension Inclusion: From April 2027, unspent pension funds will be included in your estate, potentially increasing its taxable value.
Agricultural and Business Property Relief: Effective April 2026, 100% relief will be capped at £1 million, with assets above this limit eligible for 50% relief, impacting the transfer of significant business or farm assets.
These changes may affect your financial plans. At Axis Wealth Management, our expert team can help you review and adjust your estate planning strategies to protect your legacy.
We are a Brighton based firm of Independent Financial Advisers (IFAs), that focus on long term customer relationships and giving the best service possible. We utilise modern technology to offer our clients features that make them happy.
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