Could the rise in house prices mean that you end up paying a much larger inheritance tax bill than you expected?
There was a 24% jump in estates hit by inheritance tax (IHT) over the past year, according to recent HMRC figures.
In 2019/20, the government collected £5.3 billion in IHT. This is expected to rise to £6.3 billion in 2023/24.
Experts have linked this rise largely to the disconnect between the rapid rise in house prices against the stagnant nil-rate bands that the government has in place in order to collect IHT.
Find out what this could mean for you by reading the full article here: https://oakandacornservices.com/news/
Three in five (59%) UK adults have not written a will, new research from Canada Life reveals. This equates to 31 million people, whose property, financial and other assets could be left to someone they have not chosen when they die.
If you want to protect everything you have worked so hard for and make sure it goes to the people you love, speak to an expert Estate Planner for a FREE consultation: https://oakandacornservices.com/expert/
It is probably one of the most important questions you may ask, yet many people don't know where to look for the answer.
Whether you want to draft a Will, place assets in a Trust or get Lasting Powers of Attorney - don't wait until it is too late. Speak to an expert Estate Planner with a FREE consultation: https://oakandacornservices.com/expert/
The government recently increased the limit you can put into a retirement account annually from £40,000 to £60,000. This money is protected from corporation tax, VAT, national insurance and will continue to grow on average between 6-7% every year until you decide to take it out as a pension. That means that within 10 years, it could have doubled in value.
Find an expert financial advisor to speak to and claim a FREE consultation: https://oakandacornservices.com/expert/
