Brexit: How will the trade deal impact inheritance tax? Everything you need to know
- On January 7, 2021
- By GrowthInvest Marketing
BREXIT progress was finalised recently as Boris Johnson and the EU managed to agree to a trade deal. Despite this, the ongoing relationship between the UK and EU will undoubtedly need continued work in the months and years ahead and many are analysing how the deal could impact financial obligations, including inheritance tax (IHT) bills.
Brexit negotiations came to a close recently as Boris Johnson announced a trade deal had been agreed. While this deal is still being analysed, many have already begun to speculate on how financial assets such as pensions could be impacted in the coming years.
Both optimism and pessimism has been expressed since the announcement but those who are potentially worrying about their inheritance matters will not need to take action.
The Money Advice Service has confirmed a person’s liability to IHT will not be affected by the fact that the UK has left the EU, regardless of how the situation continues to unfold.
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