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Britons Guilty of Poor Inheritance Tax Planning |
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The UK 's adult population is becoming savvier when it comes to inheritance tax planning, but £1.3 billion is still being wasted annually.
Although figures reveal that Britons are wasting nearly £300 million less than last year, vast amounts of money are effectively being poured away as a result of poor planning within personal estates. "Our research shows that, although people are improving their inheritance tax planning, they still have some way to go," revealed David Elms, chief executive of unbiased.co.uk. "Property prices have outstripped the IHT threshold over the last few years and inheritance tax is now a very real concern for most UK homeowners," Mr Elms continued. "It's vital that people seek advice from an independent financial adviser, so they can make informed decisions when it comes to IHT planning." The research is part of unbiased.co.uk's annual campaign, TaxAction, which urges people to think about ways to avoid paying unnecessary tax.
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