Consumer IHT ignorance remains - Skandia

Any assets over the nil rate band, currently £300,000, that are not in trust could be subject to IHT at 40%. Skandia says there are typically no additional costs to writing the policy in a trust when buying a product. Colin Jelley, head of tax and financial planning at Skandia, says: “They key aspect is the general lack of understanding of this amongst consumers, which underlines the value of advice. “This is bread and butter stuff for most advisers. There’s certainly a potential issue that consumers are doing direct pro business without necessarily getting the advice they need.” Alm...