DailyMail Money: How to Protect Your Inheritance from Labour Tax Increases
Tuesday, 10 September 2024, 21:01
Strategies to Safeguard Your Inheritance
As Labour prepares to unveil its budget, the potential for a significant increase in inheritance tax looms large. Here, we explore key strategies that can help you protect your money:
- Consider setting up trusts to shield assets from inheritance tax.
- Evaluate your gifting options, as gifting during your lifetime can reduce your taxable estate.
- Review your will to include tax-efficient strategies.
Importance of Planning
With Labour’s potential policies aimed at taxing inherited wealth, being proactive is essential. Engaging a financial advisor can provide personalized insight into effective planning techniques tailored to your circumstances.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.