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Legal News | 23.11.23

Inheritance Tax: reports of its death were greatly exaggerated

Whilst the rumour mill suggested the Chancellor’s autumn statement would row back on Inheritance Tax, increase nil rate bands and (in some cases) even eliminate Inheritance Tax all together, it seems Jeremy Hunt had other ideas. Despite all the speculation, the Chancellor chose to leave Inheritance Tax untouched in this year’s autumn statement.

At least there was some good news, workers and the self-employed will see a cut in National Insurance and the State Pension will rise in line with the triple lock (8.5%) in April 2024.

Given that Inheritance Tax looks to be sticking around (for now), if you’d like to find out how best to plan for the future, do get in touch with our Legal 500 recommended Private Client team who are experts on all aspects of Inheritance Tax and estate planning.

 

Posted By Our Wills, Tax, Trusts & Probate Team