0:00
inh heritance tax receipts have risen
0:01
again as experts are warning that Brits
0:03
needs start planning how to pass on
0:05
their wealth more efficiently following
0:06
changes in the Autumn budget recent
0:08
figures show inheritance tax receipts
0:10
between April and October of this year
0:12
came in at 5 billion a 500 million
0:14
increase from the same period last year
0:16
this comes after sweeping changes were
0:18
made to inheritance tax by the
0:19
government in the Autumn budget one of
0:21
those changes will see inheritance tax
0:23
apply a flat rate of 40% on a States
0:25
worth over £325,000 new rules included
0:28
changes to inherited pension which will
0:30
be subject to inheritance tax relief
0:32
from April 2027 as well as a cap on the
0:35
relief for inheritance of agricultural
0:37
land and family businesses both of which
0:39
can be passed on taxfree under current
0:41
rules the tax relief available on shares
0:43
in London's Junior aim Market was also
0:45
cut in half Additionally the chancellor
0:47
said she would be extending the freeze
0:48
on inheritance tax thresholds until 2030
0:51
when it had previously been due to
0:52
expire in 2028 it would seem that the
0:55
negative backlash on inheritance tax is
0:57
only set to get worse when abedine
0:59
pulled a vice profess was ah head of the
1:00
budget one in5 said that inheritance tax
1:02
changes to pensions would be one of the
1:04
most disruptive things the chancellor
1:06
could do for existing strategies this
1:08
week more than 10,000 Farmers took to
1:10
Westminster to protest the changes which
1:12
many claimed would decimate the sector
1:14
Rachel Griffin attacks and financial
1:16
planning expert at quilter spoke on the
1:18
farmers protest she said farmers are
1:21
also likely to start to bolster the
1:22
figures as agricultural property relief
1:25
is made less generous these changes mean
1:27
more Farmers May face higher inheritance
1:29
tax liabilities potentially forcing
1:31
difficult decisions about the future of
1:32
family-owned Farms furthermore a new
1:34
study revealed that an average single
1:36
homeowner with moderate pension savings
1:38
could end up paying as much as
1:40
£17,000 in inheritance tax under the new
1:42
rules these calculations come from
1:44
quilter who found that a single
1:45
homeowner in England with an average
1:48
£38,000 and savings of up to £ 459,000
1:51
will be liable to £17,000 in inheritance
1:54
tax from 2027 following the changes
1:57
announced in the budget we here at CM
1:59
want to know what do you think of the
2:00
changes to the inheritance tax rules let
2:03
us know in the comments and don't forget
2:04
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