What do IHT reforms mean for estate planning?

Changes to Business Relief (BR) allowances, frozen thresholds, and the inclusion of pension assets in the value of an estate for inheritance tax (IHT) have created new challenges for advisers. Clients’ existing plans may have to be amended or scrapped, with many now looking to include BR for the first time. It is vital that any plan changes continue to support clients’ goals. BR rule changes now offer an opportunity for longer-term estate planning, offering new options for clients. Some will prefer a lower but more tax-friendly approach while younger clients may opt for exposure to higher returns...