ISAs Not Inheritance Tax Friendly
Published / Last Updated on 07/04/2008
ISAs Not Inheritance Tax Friendly
Thousands of ISA investors aged 70 plus are in danger of being hit for 40 per cent inheritance tax IHT on their portfolios, due to them not having made protective planning arrangements according to WAY.
It estimates that at least £0.5bn of the current annual total IHT paid stems from IHT on ISAs and says that 165,000 investors with ISA holdings valued at £100,000 plus may be exposed to punitive inheritance tax on what are supposed to be ‘tax free’ investments.
Our view
Many types of investments are not friendly for IHT or indeed for means testing for care fees planning or other benefits that you may receive in retirement. Take advice from an expert about protecting your wealth and not being penalised for having wealth.
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