HNWs Prepare for Rising Tax Burden
Britain's wealthiest individuals are growing increasingly concerned about rising taxes, with many taking steps to protect their pensions ahead of new Inheritance Tax rules set to come into effect in 2027.
A key concern is the government's decision to include defined contribution pensions in the tax scope from April 2027. In response, one in three high net worth (HNW) individuals are already taking measures to shield their pensions from the tax, while three in ten are reviewing their pension or retirement strategies in anticipation of the change.
- The Wealth Index currently stands at 64.7, up from 58.2 earlier this year.
- This reflects a partial recovery in confidence among HNWIs, though it remains below last year's peak of 66.9, indicating ongoing caution.
Britain’s wealthy are leaving the UK in record numbers
Author's summary: HNWs worry about rising taxes and pension inheritance.
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