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The straight-talking Sue Laing provides succession and tax planning advice to HNW families, particularly in private businesses and UK landed estates.
‘This is going to hurt,’ she says of the fallout from coronavirus. ‘I don’t think anybody expects anything other than rises in tax. Inheritance tax and capital gains tax are a very small part of the overall tax take, so some people think it won’t go up. I think it would be politically almost impossible for the chancellor not to raise those rates.’
International planning has become more complex, but ‘you can still achieve long-term tax savings, and you can still devolve your assets in the way you want to’.