The Government has reported a massive increase in Inheritance Tax receipts of 42% over the last three years.
Industry experts are urging the public to take action to plan for the tax much earlier on in life.
It is thought that the majority of people do not start planning for Inheritance Tax until around age 70. If people planned earlier, such as in their 50’s then more could be done to legitimately avoid the tax.
Our view
With house prices and general wealth rising year on year, the payment of Inheritance Tax is only going to increase.
Would you rather give your money to your family or to the taxman? The answer is simple and there is absolutely no reason to pay one penny in Inheritance Tax.
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