Almost three-quarters of UK adults do not understand how IHT works

Flagged as a ‘family taboo’

Isabel Baxter
clock • 2 min read

Almost three-quarters of UK adults do not understand how inheritance tax (IHT) works, according to Schroders Personal Wealth (SPW).

Its Family and Finances report for 2025, which surveyed 1,000 UK adults, found that while 77% of respondents are familiar with the concept, 71% admitted they do not understand how it works or what their beneficiaries might have to pay. Meanwhile, more than 40% of people do not have a will in place, the most common reasons being lack of time or believing it is too early. The report also showed that 40% of people believe inheritance and estate planning is the "last great family taboo". While 41% of people recognise not discussing finance as a widespread issue, 34% rarely or never have f...

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