New Money Clinic Feature in the Client Centre
The Inland Revenue may take up to 40% of everything you own in the form of Inheritance Tax when you die. You work hard throughout life to build up your assets - do you really want the taxman to take nearly half of it in tax?
Inheritance Tax is now relevant to everyone, especially with the increases in house prices in recent years and now peoples stockmarket linked investments are starting to recover. According to one recent survey, house prices have increased by 52% over the past five years but the Inheritance Tax nil rate threshold (currently £255,000) has only increased by 16%. This means that an extra 1.5 million homeowners in the UK could become liable to this totally avoidable tax.
In the tax year 2002/2003 the Inland Revenue say that the Government received more than £2.2billion in Inheritance Tax and this figure will rise.