Inheritance Tax Do I Need Some Advice

Although often in the news, inheritance tax is still not widely understood. That's worrying, because it affects thousands of families every year. If you thought inheritance tax was just for extremely wealthy people to worry about, think again. Rising property prices and increasing stock market values have meant more estates than ever are likely to face an inheritance tax bill. In fact according to the Office for National Statistics, the amount of inheritance tax collected has doubled over the last five years, and the number of estates paying inheritance tax has nearly tripled over the same period. Acknowledging the inheritance tax problem faced by large numbers of homeowners, the Government has introduced an additional inheritance tax allowance of up to £175,000 in April 2017 to apply to the family home in certain circumstances. However, even with…