UK taxpayers are handing over £1bn to the Treasury each year simply because they do not have a prope...
UK taxpayers are handing over £1bn to the Treasury each year simply because they do not have a proper will in place warns IFA Promotion.
Overall, more than £2.3bn is due to the government from the 260,000 estates applying for probate, according to IFAP's latest Wasted Tax campaign research.
A large share of that money comes from the nearly 70,000 people who died inestate during the past year.
The problem stems from the fact two-thirds of all UK adults have no will in place, despite IHT rules that kick in at the £250,000 threshold - easily reached with today's property prices.
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Via The Exchange
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