24/03/21 – By Howard Bilton – Chairman and founder of The Sovereign Group
Official HMRC figures show that the amount of private wealth being passed on to themselves is growing a lot faster than the amount being passed to loved ones. This is almost certainly due to lack of planning rather than a sudden change amongst the moderately wealthy to contribute extra taxes to the Exchequer over and above those they paid throughout their lifetime.
This apparently startling example of philanthropy might be very welcome to the government but is unlikely to please relatives who might have otherwise benefited. It is almost certainly not deliberate. But it is avoidable.
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