Opportunities for the life insurance industry from Budget proposals

Protection driven by IHT changes

clock • 4 min read

Paula Steele, director, John Lamb Hill Oldridge, discusses how the Autumn Budget creates a need for protection for clients impacted by new Inheritance Tax (IHT) restrictions.

The Autumn Budget on 30 October confirmed the changes for non-dom  clients proposed by the Conservatives last March. In addition it introduced sweeping changes to IHT with pension funds, agricultural land, business assets and AIM shares  now falling into charge for IHT.   For many clients, life insurance will be the most effective way for planning for the payment of IHT as it provides cash flow when the liability triggers, either on death on an estate or within the seven years post lifetime gifting.   The changes for non doms Most "non doms" appear to be relatively sanguine about th...

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