Financial advisers and wealth managers in the UK are seeing a surge in client enquiries about Inheritance Tax (IHT) planning, with 92% noting the trend. Government data shows IHT revenue hit a record £8.25bn last year, expected to reach £9.1bn this year and potentially £14.3bn by 29/30.

The interest in IHT planning is driven by both new and existing clients, according to a survey. 80% of advisers report an increase in the IHT-related portion of their business over the past year, with 81% predicting it will comprise at least 20% of their business in the next three years.

Downing’s head of retail sales, Mark Dunn, attributes the increased interest in IHT planning to significant changes introduced in the last Budget and proposed pension reforms. Advisers are seeing a rapid rise in interest as more people are being caught within the IHT net due to frozen nil rate bands.

Financial advisers and wealth managers in the UK are seeing a surge in client enquiries about Inheritance Tax (IHT) planning, with 92% noting the trend. Government data shows IHT revenue hit a record £8.25bn last year, expected to reach £9.1bn this year and potentially £14.3bn by 29/30.

Read more at Yahoo Finance: Financial advisers report interest growth in IHT planning