News and Events

Click a heading to read more...

• St Raphaels Hospice Golf Day. A win for Cuff and Gough.
• Budget 2011 Inheritance Tax changes benefit Charities
• Britons unnecessarily pay £1.3 billion inheritance tax.
• Cuff and Gough raise in excess of £5000 for Will Aid
• Will Aid: Make a Will and help charity
News Archive

Britons unnecessarily pay £1.3 billion inheritance tax.

Friday 15th of April 2011

Britons will unnecessarily pay £1.3 billion inheritance tax in 2010/2011, according to a new report from unbiased.co.uk. The report shows that this unnecessary inheritance tax is down to error or could otherwise have been avoided with some basic tax planning.

With a total of £2.3 billion projected inheritance tax (IHT) revenue for the Treasury in 2010/11 (according to the Red Book Budget, 24 March 2010), errors and lack of planning accounts for an astonishing 56% of the government’s total IHT receipts.

If your estate is likely to be worth more than £325,000 – the current inheritance tax threshold – you’ll probably want to prevent it falling within that 56%. For many people, tax planning options are relatively simple so if you would like further information about how you can avoid inheritance tax please do not hesitate to contact us.