Tax take on inheritance a worry for the young: deVere Group

The founder of international wealth advisory firm deVere Group, said IHT planning had become a “major priority” to the firm’s clients aged under 40.

He said: “We have always advised our clients that estate planning should play an integral part of their long-term financial strategy, but increasingly our clients are coming to us with the clear objective of mitigating their IHT liabilities.

“And it is not just the over 60s, traditionally the ones who would actively seek advice on this subject.

Article continues after advert

“Over the past 12 months it has become a major priority to our clients under 40, indeed for many it has become as important as retirement and education planning.”

His comments came as analysis of the group’s 80,000 global clients’ needs revealed that 57 per cent of those aged under 40 were asking for help on estate planning.

Mr Green added: “IHT is almost universally regarded as one of the most despised taxes as it is, essentially, a form of double taxation. Thankfully there are many solutions that can reduce the unpalatable burden of IHT significantly.”


Last February, the government announced it was freezing the IHT threshold at £325,000 until 2019, but research last week from Close Brothers Asset Management revealed that more Britons than ever could end up falling foul of the threshold.

The research said £75bn was being inherited in the UK every year, with large sums of wealth being left exposed to taxation.

The Office for Budget Responsibility claimed the current IHT threshold would see the Treasury’s tax take rise from £3.5bn in 2013/14, to £5.6bn in 2018/19.