The Conservatives have said they would scrap inheritance tax on family homes if they win the next general election, alongside a proposal allowing couples to leave an additional £1m tax-free to children. This is a political pledge rather than current law, and advisers should be careful not to build estate-planning recommendations around an outcome that is uncertain and election-dependent.
The announcement nevertheless reinforces how property wealth increasingly intersects with mortgage, protection, retirement and intergenerational-planning conversations. Clients may ask about gifting deposits, retaining control of property, later-life borrowing, downsizing and the potential tax treatment of estates. These issues require joined-up advice and, where appropriate, referral to suitably qualified tax and legal specialists.
AI opportunity: AI can help prepare meeting agendas and identify clients whose recorded circumstances suggest an estate-planning review may be appropriate. It cannot determine tax liability or provide personalised tax advice without the necessary expertise, current legislation and professional oversight.