AXA launches account for inheritance tax planning

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AXA launches account for inheritance tax planning

A new account to assist customers dealing with inheritance tax has been launched by AXA Isle of Man.

The Estate Planning Account is intended to allow customers a "straightforward inheritance tax planning solution".

It is a unit-linked investment, combining a capital redemption bond with a trust, not to be surrendered while the settlor is alive.

The Estate Planning Account is designed to reduce liability for inheritance tax in the UK, give customers an "income" for life and increase the value of their investments over the medium to long term.

It allows customers the choice of over 200 AXA Select and over 50 AXA Family Funds, for people of a maximum age of 79.

Mike Foy, managing director of AXA Isle of Man, said the new product is a "more straightforward version of the Estate Planning Bond".

This week, HM Revenue & Customs took a number of major tax services offline for 24 hours, citing "essential maintenance".

Starting on Wednesday morning, a number of online forms became unavailable, including inheritance tax, stamp duty and pension schemes, The Industry Standard reported.

ADNFCR-323-ID-18742568-ADNFCR

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