{"id":2236,"date":"2021-10-11T11:12:35","date_gmt":"2021-10-11T10:12:35","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=2236"},"modified":"2021-10-14T13:10:08","modified_gmt":"2021-10-14T12:10:08","slug":"estate-planning-update","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2021\/10\/11\/estate-planning-update\/","title":{"rendered":"Estate planning update"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>HM Revenue\n&amp; Customs (HMRC) published its annual statistics on Inheritance Tax (IHT)\nin late July, revealing that IHT payments in the 2020-21 tax year totalled\n\u00a35.4bn, up around \u00a30.2bn (almost 4%) on the previous year, when receipts were\nslightly lower than 2018-19. Typically, more than 20,000 deceased estates a\nyear are subject to an IHT charge.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The figures\nreveal that there has been a reduction in the number of estates affected in\nrecent years, which HMRC believes is due to the phased introduction of the\nresidence nil-rate band, which can allow the estates of married couples and\ncivil partners to receive a total \u00a31m nil-rate IHT band. A transferable\nnil-rate also assists this outcome, as it is possible to transfer any unused\nIHT allowance on death to a surviving spouse.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Estate planning\ncan help to keep an estate out of the clutches of IHT or at least reduce the\namount of tax payable, by taking simple steps such as making lifetime gifts,\nthrough to more complex trust arrangements. It is a specialist area,\nparticularly with the possibility of a revised IHT regime being introduced, so\nprofessional input is advisable.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>The value of investments and income from them may go down. You may not\nget back the original amount invested. Inheritance Tax Planning is not\nregulated by the Financial Conduct Authority.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>HM Revenue &amp; Customs (HMRC) published its annual statistics on Inheritance Tax (IHT) in late July, revealing that IHT payments in the 2020-21 tax year totalled \u00a35.4bn, up around \u00a30.2bn (almost 4%) on the previous year, when receipts were slightly lower than 2018-19. Typically, more than 20,000 deceased estates a year are subject to an [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":2273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2236"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=2236"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2236\/revisions"}],"predecessor-version":[{"id":2274,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2236\/revisions\/2274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/2273"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=2236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=2236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=2236"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=2236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}