There are a host of areas and products that you can invest in these days, but property continues to be a major draw for many.
The recently published English Private Landlord Survey 2021 explored the reasons for becoming a landlord, with a key one being a preference to invest in property rather than other areas. Some said that the move would act as a pension contributor, while the chance to supplement income was also referenced.
But, while the area may be attractive, there are of course a range of issues to consider. However, has inheritance tax (IHT) ever been on your radar? With property prices rising, it may be worth keeping in mind.
Dicky Davies, Business Development Director at Tower Street Finance, said: “The increase seen in property prices is a big talking point across the UK right now, but it could become a particularly major issue if you have property investments.
“The price rises may mean that more estates go beyond the IHT threshold, particularly as the IHT thresholds have been frozen until 2026, so it is worth keeping tabs on the value of your assets. After all, a failure to do this could have significant consequences for your friends and family, as they could end up facing the stress of unexpected and costly IHT bills.”
If such issues do emerge, Dicky added that Tower Street Finance may be able to help.
He said: “Such situations can be tough, but you may not have to face them alone. Our range of products includes the IHT loan, which has been created to support those facing an unexpected bill.
“You can use the loan to pay HMRC, with the estate then repaying the funding afterwards. Hopefully, this should provide some relief at a difficult time.”
Find out more at about our Inheritance Tax Loan product or call us on 0343 504 7100.