28 Nov 2022
Autumn Budget Confirms Inheritance Tax Freeze
The Autumn Budget has confirmed Inheritance Tax will continue to be frozen until at least April 2028.
As a result, everyone will continue to get a tax-free allowance of £325,000, with a further £175,000 if the property is being passed to a direct descendant
Although good news for many, future years will see assets grow in value which could move you just beyond a threshold and make you eligible for larger tax payments.
But by using the skills and expertise of a future planning service, you can ensure the maximum value permissible by law goes to the people you wish it to go to, making the most of your estate for your loved ones.
Rebecca Harbron Gray, Head of Wills, Probate and Trust at Winn Solicitors, said: “It’s really important for people to realise they may have to pay Inheritance Tax.
“The more you can plan ahead, the greater the opportunity to mitigate and reduce the likelihood of Inheritance Tax by other planning methods.”
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