Big family enterprises, which previously paid no IHT, will face tax of 20% on value above £1m from April
It is a great time to be a rich kid in Britain, according to the advisers, lawyers and accountants of wealthy families.
While rumours of a wealth tax swirl in Westminster, and with tougher inheritance tax (IHT) rules looming in the new tax year, wealthy parents are starting to give away their assets and sign over parts of their businesses to their children – in some cases, decades sooner than they had planned.
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