Heir traffic control

Forward planning and prudence are key ingredients when exploiting the much-reduced options available for mitigating inheritance tax

Inheritance tax (IHT) raises just less than £4bn each year. However, what is unknown is the amount of money invested in tax mitigation schemes - but the consensus view is that it must be very significant and growing. Unlike most other investment planning, a specialist investment adviser may not be the first point of contact, which makes strong relationships with both lawyers and accountants essential. IHT planning can also be very frustrating from an adviser's point of view. No sooner does a solution develop than the legislators, through HMRC, seem to move the goal posts again. That sai...