Navigating inheritance tax changes in legacy planning

Recent changes to inheritance tax (IHT) rules, announced in the UK Budget, could significantly impact legacy planning strategies for high-net-worth individuals. Key changes include the inclusion of pension assets in IHT calculations from April 2027 and reduced relief on AIM-listed shares and business assets. These updates may result in higher tax liabilities, prompting advisers to reassess wealth transfer strategies. Diversifying approaches, including gifting, rebalancing portfolios, and engaging multiple generations, will be critical to reducing the tax burden. The evolving landscape highlights...