In this video, Simon and Ross discuss the growing importance of Inheritance Tax (IHT) planning, highlighting how more people are being affected due to rising asset values and unchanged tax thresholds. IHT is a 40% tax on the value of an estate above £325,000 and now, with new Labour government changes, private pensions will also be included from April 2027.

They explain that everything from property and savings to stocks, crypto, and valuable assets is subject to IHT, except for qualifying business assets. With fiscal drag pulling more estates into the IHT net, they stress the need for early and proactive planning, especially due to the “seven-year rule” for tax-free gifting. While the best course of action depends on individual circumstances, the key takeaway is clear: if your estate is nearing or above the threshold, now is the time to assess your exposure and seek tailored advice to protect your wealth for the next generation.