Inheritance
Inheritance tax receipts reached £2bn between April and June
A £200m increase from last year
Brits may pay income tax when inheriting untouched pension pots
As the government considers new rules to replace the pensions lifetime allowance
Over 5,000 families reclaimed overpaid inheritance tax last year
With 1,000 families already reclaiming in 2023/24
Just under half of HNW Brits not taken advice on IHT planning
As majority of UK adults planning to pass on wealth in their lifetime have not considered how and when to do this
Best Practice | 7 Jun 23
Advice industry needs to promote family wealth discussions
As 19% of Brits over 60 say they have never spoken to their children about their finances