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.
The fact you are living and working overseas shouldn’t detract away from the importance of ensuring you take UK Inheritance Tax planning seriously. In fact, it’s even more vital to maximise the perks your international status brings to help create a legacy for the next generation of your family.
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 our free UK Inheritance Tax e-guide to learn:
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.