Posted by James McNeile, Partner
What Brexit means for private individuals
It is too early to say what impacts there will be on private clients but the setting of tax policy has always remained with national governments (other than VAT), and even on the harmonisation of European succession law England and Wales have retained independence so changes may not be as extensive as for companies.
It seems likely that tax rates may have to rise and this may give greater impetus to planning around Inheritance Tax, Capital Gains Tax and Income Tax. Greater uncertainty regarding job opportunities for younger generations may also militate towards the creation and funding of trusts for children and grandchildren.
For further information and expert advice, please contact James McNeile
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