Life, pensions and investments provider Royal London has launched an inheritance tax hub for financial advisers.
The digital resource is designed to support advisers through client conversations about inheritance tax planning.
The hub includes articles and insights on IHT planning, guides covering pension and protection solutions, practical tools and resources, as well as regular updates reflecting policy developments and market changes.
Recent research from the provider found that 3 in 10 consumers believe they will impacted by the planned changes to the IHT treatment of pensions coming into effect from April 2027.
Clare Moffat, tax expert at Royal London, said the IHT changes have driven a 50% increase in sales for whole of life protection policies for the provider.
She said: “It’s clear that there’s a real concern among clients about these significant changes and a need for an information hub to support advisers. By making everything advisers need available in one place, we aim to help them strengthen their proposition and deliver even better outcomes for their clients.”
Despite a slowdown in the rate of growth, IHT receipts are still on track to exceed last year’s total of £8.2bn for a fifth consecutive annual record.
IHT receipts have been rising strongly due to the freeze in the nil rate band at £325,000 since 2009. The band is frozen until at least April 2031.
Earlier this month David Cooper, director at Just Group, said advisers should be on the lookout for further IHT changes from the Government as they look to boost IHT revenues.
He said: “Inheritance Tax has been a powerful revenue generator for the Treasury following four consecutive years of record tax takes thanks to frozen thresholds and rising asset prices.
“While the tax is just about on track to clock up a fifth consecutive annual high and meet the OBR’s estimate, there are signs that the rate of increase has flattened this year. The Treasury will be banking on the policies announced at the Autumn Budget 2024 to provide fresh momentum to meet the 67% increase in revenue forecast over the next five years.”