Blue Wail: The impact of a Biden Presidency on US/UK estate planning

Marilyn McKeever, international tax partner, BDB Pitmans, 22/12/2020

Joe Biden wants to reform the US tax system so that wealthy individuals contribute their “fair share” - a notion which is also part of the UK tax debate.

Mr Biden proposes to increase the top rate of income tax to 39.6 percent for those with taxable incomes over $400,000. He also intends to align long-term capital gains tax rates with income tax rates, where income exceeds $1m. This chimes with the recent report...

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