Limiting inheritance tax liability becomes more difficult
Limiting inheritance tax liability has become more difficult since HMRC has launched its campaign to close down many of the usual loop holes and tactics which have in the past, allowed individuals to minimise the amount of inheritance tax which could be applied to their final estate.
Generally, the advice being given is to start planning as early as possible; leaving it until later in life will severely limit your options.
Many more estates are reported as being investigated by the taxman, meaning that any inheritance tax planning must be watertight. There are even concerns that the tax threshold may not just be kept static, but may even be lowered during the next election.