
In this week’s NLJ, James Ward, head of private client at Kingsley Napley, examines the implications of the 2024 budget for estates planning.
Ward writes: ‘Tactics around pensions will have to change. Often, they are not taken by the original owner as they represent an attractive tax-free sum to pass on. However, now it makes sense to use pensions if 40% will be taxed on death.’
Ward anticipates that many people will want to completely review their estate planning as a result of this budget.