Time Investments has unveiled an online inheritance tax (IHT) planning hub to help advisers navigate the complex area of financial planning.
With house prices soaring, and IHT bands frozen until 2026, an increasing number of people will be caught in the inheritance tax net in the coming few years.
IHT receipts for 2020-21 hit a staggering £5.5bn ($7.2bn, €6.6bn), according to HM Revenue & Customs, with the figure expected to nearly double over the next five years.
Henny Dovland, IHT technical specialist at Time Investments, said: “With property values continuing to rise, many families are being pushed above the frozen nil rate bands and becoming liable to IHT.
“IHT is often called the ‘voluntary’ tax as, with careful planning, there are many simple and legitimate ways advisers can help their clients reduce their exposure to this tax. With trillions expected to pass between the generations over the next three decades, this presents a unique advice opportunity for financial advisers and planners.
“Intergenerational planning has never been more important, which is why we have launched the new hub to help advisers identify these planning opportunities.”
