The Scoop

The Average IHT Bill

Estates liable for inheritance tax in the UK face an average bill of more than £170,000 each according to analysis of HMRC data by Prudential.

As the total amount of inheritance tax payable increases, so does the value of careful tax planning for anyone looking to cascade as much of their wealth to their families as possible.

Planning for inheritance tax is at its most valuable when it is done early and has become increasingly important with the additional options and complexities brought about by the new rules allowing individuals to pass on pension savings to family members.

With all this in mind, it is almost never too early for many people to discuss future financial plans for them and their families with a professional financial adviser.