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UK wealthy struggle to understand inheritance tax

UK wealthy struggle to understand inheritance tax

More than two thirds of UK consumers with assets of more than £325,000 ($454,305, €370,339) do not know their estate may be liable for an inheritance tax (IHT) bill, according to research by Canada Life.The annual research by Canada Life, called the IHT Monitor, found 70% of people aged over 45 with assets more than £325,000 did not know the threshold for the standard nil rate band (£325,000), up from 61% in 2016. Additionally, 55% of people do not know the rate at which assets above the nil rate threshold are taxed, this is up slightly from 52% in 2016.

Please link to International Adviser to read the full article by Tom Carnegie.

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