Rushed decisions on IHT liabilities could prove costly, writes MARK PRYCE It used to be the case that entrepreneurs and business owners could transfer over their longstanding commercial legacies to the next generation without the fear of a huge cash tax bill on their death. Changes announced by the Chancellor have not only caused widespread […]
IHT
Tax changes may prompt a family rethink
Changes in tax relief may mean families need to change their plans for the future, say RITCHIE WHYTE and AILEEN ENTWISTLE For decades, pensions were seen as the “safe haven” to cascade wealth efficiently down through the generations. However, changes to how pensions are treated for inheritance tax (IHT) have left many clients perplexed and […]
Avoid rash decisions over IHT changes
New rules on IHT relief are causing some concern, but there is no need to panic, says TINA BISHOP Business owners and shareholders planning to gift shares to their children because of impending inheritance tax (IHT) changes should press the pause button and avoid rash decisions they may later regret. Changes to the IHT relief […]
Early action can minimise IHT on farms
Farmers protesting in London Farming families are outraged at recent changes in the budget, but there is help at hand, says JAMES MacKINNON Changes to inheritance tax (IHT) rules for farmers, announced as part of the UK Budget last month, have caused consternation within the agricultural community, even generating national headlines as farmers have voiced […]