Half of over-45s unaware their main property is subject to IHT

Three-quarters don’t know taxable threshold

Hannah Godfrey
clock • 2 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Pension reform and IHT: Why advisers are turning to EIS

Pension reform and IHT: Why advisers are turning to EIS

'As pensions lose some of their tax advantages, EIS is coming to the fore in estate planning conversations'

Moray Wright
clock 26 August 2025 • 4 min read
Making Tax Digital: What the scheme means for working Brits (and advisers)

Making Tax Digital: What the scheme means for working Brits (and advisers)

MTD initiative is aimed at modernising and simplifying the tax system

Arjun Kumar
clock 26 August 2025 • 4 min read
Pensions and IHT - is gifting the best option?

Pensions and IHT - is gifting the best option?

‘Advice will be more valuable than ever’

Lisa Webster
clock 22 August 2025 • 3 min read