With house prices rising rapidly, this figure could easily be surpassed in the coming years.
Bolstered by the rapid house price rises in the UK, HM Revenue & Customs revealed it collected £700m more in inheritance tax receipts in compared to the previous financial year. Between April 2021 and March 2022, it collected an eye-watering £6.1bn in IHT.
With rising property prices and both the residence nil rate band and nil rate band frozen until April 2026, inheritance tax planning has never been so vital.
Existing in the UK since the 1700’s, IHT planning has again come into prominence following Rishi Sunak’s decision to freeze the lifetime exemption in March 2021’s Budget.
A recent study found that 4 in 10 Brits are concerned about paying Inheritance Tax, yet 74% are yet to do anything about it.
Download your Guide To Inheritance Tax Planning eBook Now.
Often with IHT planning, the focus is so heavily on providing for your loved ones after you die, but this doesn’t have to be to your detriment either today or throughout your life. At Skybound we work with you to develop a holistic wealth planning strategy that protects your wealth whilst achieving the best return on your investments.
Skybound Wealth Management Limited FF2, MBP3, Meadowhall Business Park, Carbrook Hall Road, Sheffield, S9 2EQ
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Investing in shares should be regarded as a long-term investment and should fit in with your overall attitude to risk and financial circumstances.
The guidance and/or advice contained within this website are subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK. Skybound Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority. Registered Office - MBP3, Meadowhall Business Park, Carbrook Hall Road, Sheffield, S9 2EQ. Registered Number 04479650, England. Financial Conduct Authority Number 217994.
The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK. The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk. Neither Skybound Wealth Management Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.