Wealthy parents rush to give children their assets as tougher UK inheritance tax rules loom

Farmers and their children protesting outside parliament in November last year. Photograph: Amer Ghazzal/Rex/Shutterstock

It is a great time to be a rich kid in Britain, according to the advisers, lawyers and accountants of wealthy families.

While rumours of a wealth tax swirl in Westminster, and with tougher inheritance tax (IHT) rules looming in the new tax year, wealthy parents are starting to give away their assets and sign over parts of their businesses to their children – in some cases, decades sooner than they had planned.