Figures released for April 2023, showed that the HMRC collected £597 million in inheritance tax (IHT) receipts, an increase of £90 million when comparing the same period, a year earlier.
More and more of us who own our own homes will find our estates will be eligible to pay IHT as the value of property increases and the threshold at which IHT is payable continues to stagnate. This is one of the reasons why NLP Financial Management were asked to give a presentation recently to the employees of Goldman Sachs, a company we have worked with for many years now, providing group presentations and one-to-one consultations with their staff.
This one hour webinar presentation was part of Goldman Sachs’ Financial Wellness quarterly series, comprising 5 sessions that covered various topics, all designed to provide practical, financial education and “highlight quality services and solutions to staff.”
Unsurprisingly, with the widening knowledge and media headlines of tax freezes, we welcomed over 125 participants on the call with over 20 questions put to us afterwards, asking for further information and ways in which IHT can be planned for as early as possible. Getting ahead really is key to mitigating potential costs that loved ones may need to find at a later date.
If you would like to discuss any Inheritance Tax Planning issues or invite us into your organisation to deliver a similar presentation then please do not hesitate to contact us.