What to expect in the 2023 Autumn Statement?
The 2023 Autumn Statement is due to be delivered on Wednesday 22nd November. We look at what might be announced by the chancellor.
Business news and opinion from Evans Weir > Tag: IHT
IHT ‘The unfair’ tax captures more in its net
At the same time as a poll for the Sunday Telegraph suggested voters believe Inheritance Tax (IHT) to be the most unfair tax levied on UK residents, revised HMRC forecasts were suggesting that up to 50,000 more families would be faced with an IHT tax bill by 2028.
IHT Lifetime Gifting ‘Tax Trap’
News that HMRC has pulled in almost £650m due to complex inheritance gifting rules in the past three years, has once again highlighted the need for careful estate planning by families. Whilst the overall tax receipts from Inheritance Tax (IHT) between April 2022 and February 2023 were £6.4 billion, the focus of this latest news is on the proportion collected as a result of gifts made by the deceased in the period leading up to their death.
Looming IHT Tax Bill for the Nation
An increasing number of families across the country are facing the prospect of significant Inheritance Tax (IHT) bills. Chichester is at the forefront of this mounting problem as asset rich, cash poor (relatively) families fail to make use of strategies to mitigate the impact of IHT. Whilst many over 50s will be counting the benefit […]