Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

IHT tax receipts hit record breaking £5.4 bn

These latest figures were published by HMRC just last week. Since 2009/10 receipts have increased both in terms of annual revenue and as a proportion of GDP.

My view is that this is just plain wrong. Families who have worked hard and paid their taxes throughout their lives should not be penalised just because they have been prudent.

The sad thing is that Inheritance Tax, with just a little forethought and planning, is probably the easiest tax to reduce / avoid.

The problem seems to be that it is just not a subject families feel comfortable talking about. One day it all seems so far away and the next day children don’t think they can raise the subject as it seems to be getting close and they don’t want to seen to be mercenary. And yet I have not met a single client who has told me they would prefer the tax man to be the main beneficiary of their estate ahead of their children / grandchildren.

So many people believe that if they have made a will everything is in order. Nothing could be further from the truth. Most solicitors are neither trained or authorised to to give taxation and financial advice.

The other problem is that the financial adviser who helped with the mortgage or pension may not be a IHT specialist. This is one area of financial planning where guidance rather than regulated financial advice is the best starting point. For sure you may eventually need a regulated adviser to source the required financial products but that should come much later.

My experience is that talking about this with the help of a mediator is something which brings families together and is very rewarding for all parties.

It is one of my roles as a Retirement Coach to not only ensure that my clients have a confident and rewarding retirement but to make sure that their families benefit from what’s left and not the tax man. One day it may be your or your parent’s money which is producing yet another increase in the IHT take.

Don’t let that happen to you!

Give me, Richard, a ring on 07770 575122 and let us start the planning process now.

As my regular readers will know, I am no longer a regulated financial adviser and cannot therefore give personal advice on purchasing regulated financial products. If that is necessary as part of the solution I can source a suitably experienced and qualified adviser for you. In the meantime let’s get the planning process started.

£5.4 billion in one year – that’s a lot of money. Don’t any of it let it be yours.


This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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