Phil Wickenden: IHT planning – more than an estate of mind

Despite significant changes in IHT planning—covering pensions, business and agricultural relief, and domicile—underlying long-term trends and structural disconnects continue to be largely overlooked. (Source Money Marketing)

If these underlying issues are better understood, addressed, and integrated into everyday practice, IHT planning outcomes can significantly improve—for clients, their families, and advisory businesses alike.

The tax measures introduced in the October 2024 Budget, alongside frozen thresholds, allowances, and reduced exemptions, mean that more individuals will need effective IHT and estate planning advice.

While the Office for Budget Responsibility (OBR) reports that only a small share of estates incurred IHT in 2023/24, the proportion is notably higher among advised clients. Looking ahead to the end of the threshold freeze, that figure is expected to nearly double.

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