The lack of awareness around inheritance tax (IHT) in the UK has increased in the last year, with half (50%) of over-45s admitting to be unaware their main property could be subject to IHT.
According to Canada Life's latest edition of its annual report on IHT, the proportion of those unaware their main property may be subject to IHT has risen sharply from on-in-three (36%) a year ago. The lack of knowledge extends beyond property to other assets too: of the 1,002 UK consumers surveyed, more than three-fifths (62%) did not think their pension savings are subject to IHT, compared to 57% a year ago. Additionally, two-thirds (66%) were unaware agricultural land also carried IHT liabilities. Hear from Canada Life and dozens of other expert speakers at Professional Adviser's P...
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