As we approach our next Masterclass, speaker Julia Peake, Technical Specialist at Canada Life explains how IHT is no longer a just a tax for those deemed “wealthy” due to the current climate and why the discussion around using legitimate solutions to negate IHT liabilities should become an early part of financial planning.

Can you give a quick overview of what your Masterclass will cover?

An overview of current Inheritance tax considerations and how these are impacting clients, what we can do to help negate IHT liabilities, including the uses of trusts and a brief overview of UK TRS and trustee obligations.

What are the challenges surrounding tax and estate planning you would like journalists to help their readers understand? How will you be discussing this at the Masterclass?

IHT is affecting more and more people, its no longer a tax for the deemed “wealthy” due to the current climate. Conversations around estate planning and IHT need to happen much earlier and involve the family.

We will be looking at the current market conditions and go through some possible options different clients should be thinking about.

Any general tips for money writers covering IHT?

IHT receipts are increasing due to a combination of increased house prices, deaths and people thinking they have time to plan or delaying putting plans into place. There are perfectly legitimate mitigations tools and actions people can take to reduce IHT liabilities on estates.

What would you like to change about how journalists cover tax, trusts and estate planning?

As the IHT tax burden increases, so should the discussion around legitimate solutions become part of many people’s financial planning.

Tell us about the big stories in tax and estate planning in the past few months. Could these be rolling stories? 

The deadline brought under the 5^th Anti Money Laundering Directive of the UK Trust Registration Service was 1^st September for all UK express trusts that were in existence on 6 October 2020 that needed to be registered unless explicably excluded.

Finally, why is it important for journalists to have access to initiatives such as Headlinemoney Masterclasses?

An excellent way to share knowledge amongst industry professionals and to develop relationships.

Julia Peake will be speaking at the upcoming Headlinemoney Masterclass on 19 October 2022, along with three other industry experts giving succinct overviews of their sectors for financial journalists. Find out more and book a place.

3 October 2022