Four safe ways to cut inheritance tax
- On November 10, 2022
- By GrowthInvest Marketing
Holly Thomas looks at how you can help your children through a cost of living crisis without falling foul of the taxman.
Wealthy parents of grown-up children are handing over inheritance early to help ease the burden of the cost of living crisis.
As households grapple with the rising cost of groceries, energy, fuel and now mortgages, the Bank of Mum and Dad is springing back into action.
More than three quarters of 40-year-olds have already been given some form of inheritance by their parents, and over a third of parents of 40-year-olds expect to hand over some money before the end of the year.
A study by the financial manager Barclays Wealth, which works with high-net-worth clients, suggested that the money would be intended to help with immediate living costs, rather than bigger purchases such as property.
Hannah Edwards from the financial adviser Eva Capital Management
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