Inheritance delay risks IHT bill

The survey of 1,901 UK adults reveals 60% think their children should inherit at age 21, rather than age 18, but 83% are unaware that if their offspring do not inherit from a trust at 18 years of age they will be taxed. Under new IHT laws, inheritance after age 18 will be taxed every 10 years on the value of all assets above the IHT threshold of £285,000, including any income arising from the assets. The survey also suggests it is not just the age of inheritance which is confusing people, as when it comes to who receives assets, half of the population predicted that without a will a s...