As Wednesday’s Budget approaches, it’s natural to feel apprehensive, especially when it comes to potential changes in taxation, including Inheritance Tax (IHT). With speculation around possible tax increases and new fiscal policies, Four Oaks Legal Services wants to provide reassurance that there is no need to panic.
First and foremost, we understand that many families and business owners are anxious about how the Budget may impact their wealth preservation strategies, especially given the discussions around changes to IHT. It is important to remember that while any tax changes may seem concerning, they will not take effect immediately. There will be time to assess the implications fully and make any necessary adjustments to your estate planning strategy.
Rest assured, there are always options available to help mitigate IHT and protect your assets.
Our team of legal experts will carefully analyse the Chancellor’s announcements on Wednesday. As soon as any policy changes are confirmed, we will issue clear, comprehensive guidance. We aim to share our professional insights as quickly as possible, helping you with any steps which we recommend.
Additionally, Four Oaks Legal Services is a proud member of leading professional bodies, including the Society of Trust and Estate Practitioners and the Association of Lifetime Lawyers. Our membership with these organisations allows us direct access to resources and insights from top industry professionals.
Finally, while tax policy changes can be unsettling, it is worth emphasising that there are always proactive steps we can take to mitigate IHT. With strategies ranging from gift planning and trust creation to exemptions, reliefs, and restructuring options, we can develop a customised plan that suits your specific needs and objectives. Our commitment is to provide you with peace of mind, knowing that we will always work to secure your family’s future.
If you have any immediate concerns or wish to discuss potential options in advance of the Budget, please do not hesitate to contact a member of our Private Client team; Adam Penn, Charlotte Taylor or Nivashia Vigneswaran.
We are here to ensure you have the clarity and confidence you need.