One in four over 50s unsure of inheritance tax liabilities

 In DS Howell, Estate Planning, Retirement Planning

Over 50s are in danger of losing vast sums to the Treasury, due to a lack of understanding and preparation for their assets when they die.

According to research carried out by financial services group WAY Investments and shared exclusively with Moneywise, nearly half of over 50s (48%) described their understanding of inheritance tax (IHT) as “not very good” or “terrible”.

One quarter (25%) had no idea if their assets would be liable to IHT when they die, and nearly half (48%) did not realise their estate could be liable to a 40% tax rate.

Read the full report at Moneywise >

Photo by Link Hoang on Unsplash

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