Why not give another 40% to the taxman? – Monday Musings 27/09/2021
£550 million is the sum that the revenue collected in Inheritance Tax (IHT) last month with the government coffers from IHT being up by 35% in the year. When you look at the pure numbers that’s £2.7 billion since the start of the new tax year an increase of £700 million on the same period last year. The scary thing is that this huge sum of money includes contributions from families who probably could have taken steps to mitigate against IHT but did not take advice. It is true that a major part of the increase in the number of families paying this voluntary tax is due to the increase in the value of the family home, but even then, there are steps one can take to protect the wealth you or your parents have built up over a life time of work. If you would like to know more about IHT please get I touch and I will send you one of Straight Talks guides to IHT. If you would like to meet one of my team to discuss your situation this can be in your home or our client suite at the office.
|04.01.2021||27.09.2021||% Change||% Change on week|
|FTSE 100||6571.80||7051.48||Up 7.30||Up 1.26|
|Dow Jones||30105.26||34798.00||Up 15.58||Up 0.62|
|Nasdaq||12696.74||15047.70||Up 18.51||Up 0.03|
|S&P||3695.49||4455.48||Up 20.56||Up 0.52|
|NIKKEI||27228.07||30248.81||Up 11.09||Down 0.82|
|Hang Seng||27431.07||24192.16||Down 11.80||Down 2.92|
|Shanghai||3502.13||3613.07||Up 3.16||Down 0.02|
|CAC 40||5584.96||6638.46||Up 18.87||Up 1.04|
|DAX||13733.08||15531.75||Up 13.09||Up 0.27|
You can now view the Monday Musings as a Podcast or on our YouTube Channel. Click the links below!!
YouTube: Straight Talk Financial Planning – YouTube