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LATEST NEWS & EVENTS Britons 'losing billions unnecessarily in inheritance tax'  UK consumers are wasting money by paying inheritance tax unnecessarily, it has been claimed. According to Unbiased.co.uk, Britons are losing a combined total of £2 billion in this way. A survey conducted by the organisation revealed that 86 per cent of people admitted to doing nothing to reduce their tax burden. It pointed out that if Labour remains in power following the general election - which will take place on May 6th - the threshold for the levy could be frozen at £325,000, rather than rising with inflation. Karen Barrett, chief executive of unbiased.co.uk, said: "With Tory plans to raise the inheritance tax threshold to £1 million, inheritance tax is now a key topic on the election agenda." She went on to recommend that consumers have provisions in place to protect their families from losing out financially in the wake of their deaths. People should seek financial advice for this purpose, Ms Barrett added. 
Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net £450m a year in savings More Individual Legal Services News |
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