Landlords face large IHT bills due to lack of estate planning

More than one in two landlords with large property portfolios have no succession plan in place, potentially leaving heirs with large inheritance tax bills.

Handelsbanken has found that 52% of landlords with more than 10 properties have no longer-term estate management plans, which could force heirs to sell properties to meet these future tax bills. 

Its 2022 SME Landlord Survey Report looked at the reason why landlords were failing to plan for the future. A quarter (27%) said they had not had the chance to develop a plan yet, 23% admitted it had simply not crossed their minds, while 19% said that they had no one to leave their portfolio to. Meanwhile 15% said this was no a priority for them – with the same proportion stating the whole process was too complicated.

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