Investment - Articles - Possible IHT reforms at upcoming Autumn Budget

 Stephen Atkinson, Global Head of Sales at Utmost Wealth Solutions, commented: “Inheritance Tax is already expected to paid on nearly 1 in 10 deaths by the end of this decade as reforms announced at last year’s Budget tightened longstanding reforms. The tax has raised record sums for the past four years as more estates are pulled into the net and face higher liabilities.
 
 “Ultimately, while the Chancellor is clearly keen to explore all available revenue-raising options, these reforms and continued uncertainty over the future direction of travel are making the UK increasingly less attractive from a wealth perspective.
 
 “We have seen many high-net-worths and non-doms leave the UK in the last year and any further measures that make the UK less competitive as a destination for affluent families would likely accelerate this impact.
 
 “At the same time, we have experienced strong and growing demand for financial advice with families seeking estate planning strategies to protect intergenerational wealth and avoid unintended tax consequences.”