""With the average bill in Inner London set to exceed £340,000, it's vital that individuals and families take proactive steps now.""
""London's property values and concentration of wealth mean families here are disproportionately exposed to the impact of Inheritance Tax.""
According to a report by Irwin Mitchell, Greater London is facing a significant rise in Inheritance Tax (IHT) liabilities, projected to reach £2.6 billion annually by 2027—a notable 54% increase from 2022. Based on HMRC data, over 9,400 families will be liable each year by 2026/27, particularly affecting Inner London where average IHT bills may exceed £340,000. This increase is part of a broader UK trend with total IHT liabilities expected to approach £9 billion and a 50% rise in liable estates, indicating urgent need for proactive estate planning.
Read at London Business News | Londonlovesbusiness.com
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