If you own a holiday home in Europe that you rent out for part of the year, you may have to pay more tax on your European property thanks to Brexit.
One recent change that should be taken into consideration when drafting your Will is the additional Inheritance Tax nil rate band for passing on the family home to ‘direct descendants’ on death.
Budget 2021 could bring changes to some key taxes, as the Chancellor aims to recoup funds lost during the pandemic.
With a little clever IHT planning, you could minimise your tax bill and leave more of your money and possessions to your loved ones and other chosen beneficiaries. Is it time to review your Will?