01: Introduction

Inheritance tax (IHT) was once seen as a tax on the wealthy, but with the average house in the UK now worth nearly £180,000, IHT is now a concern even if you are just a homeowner with modest savings.

Without the right planning, IHT could substantially reduce the value of the estate that you want to leave to your family. Fortunately, it is relatively easy to take some measures to mitigate IHT, particularly if you decide to take action early enough.

The 2007 Pre-Budget Report helped couples to maximise the use of their nil rate bands and created new planning opportunities. This followed major changes to the tax treatment of trusts in 2006.Last Updated