Comment on Autumn Budget tax changes and stamp duty from more2life
31 October 2024
Ben Waugh, Managing Director of more2life, comments:
“With a raft of tax changes announced in the Budget, including inherited pensions coming under the IHT regime from 2027, it is absolutely vital to seek specialist financial advice before making any complex financial decisions.
Releasing equity from a property is one way to mitigate the impact of inheritance tax, as part of a broader intergenerational wealth transfer strategy.
"From April 2025, when the current stamp duty exemptions for first-time buyers expire, those looking to get onto the housing ladder may have no choice but to rely on family for financial support. Currently, around 1 in 10 families, when releasing equity from their home, do so to gift money to family, a figure we expect to grow as a result of the Budget changes announced yesterday.”
