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Inheritance Tax planning remains essential, with current thresholds including a £325,000 nil rate band and up to £175,000 residence allowance per person. Understanding key rules—such as the seven-year rule for gifts, annual exemptions, and spousal transfers—can help reduce liability. Careful lifetime gifting, combined with professional advice, can ensure your estate is managed efficiently and tax exposure minimised for your beneficiaries.

The Autumn Budget of 2024 and how it may affect our clients