Families in Yorkshire considering how to protect up to 40% of their wealth from being handed over in inheritance tax to the Treasury now only have a small window left to act.
Azets, the UK top 10 accountancy and business advisory with three offices in Yorkshire, has been inundated with enquiries following the government’s overhaul of the tax (IHT).
These include restrictions to agricultural and business property reliefs from 6 April next year and the extension of IHT to unspent pension pots at death from April 2027.
Leeds-based Richard Major, partner and national head of private client services at Azets, urged people to think ahead.
He said: “There are thousands of families in Yorkshire and the UK with estates worth more than the IHT threshold of £650,000 thanks to accumulated savings, investments, pensions, raises in asset va