Worldwide Financial Planning

This week oil traders were once again dancing to Donald Trump’s tune as a potential meeting between the US and Iranian presidents on the sideline of the UN’s annual general meeting raised hopes that a breakthrough was possible. In the end, Trump delivered another confrontational speech and there was no meeting between the rival leaders.

Suppose you have £1million sitting in deposits and investments which you know you are unlikely to spend (like you do). If it remains in your estate until death and sits above your available exemptions and allowances, some of it could ultimately suffer inheritance tax at 40 per cent.

The shift in mood across the UK and Europe has been clear, but the US rate decision cleared up any lingering doubt about whether new Fed chair Kevin Warsh shares this priority.

Inheritance tax planning is one of those subjects where a simple idea can be buried under enough technical language to make you lose the will to live. Rysaffe planning is a decent example, so, bear with me.

This week US Treasury Secretary Scott Bessent warned financial markets not to challenge his authority as he seeks to support the value of the yen and discourage the Bank of Japan from selling its huge stock of US Treasury bonds. “I am the house now,” he declared.

So, as ever, the headline is simpler than the reality. And the danger is seeing those dramatic headlines of “40 per cent inheritance tax on pensions” and doing something daft.