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...
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