Families are being used as ‘Cash Cows’ by the government imposing the immoral double tax upon inheritance. So says Dia Chakravarty of the Taxpayers Alliance commenting on the latest figures released yesterday.
With the average price of a home in the south east now at £337000 thousands of middle income families are being dragged in to paying inheritance tax upon death. The annual tax free allowance in force until 2017 is £325000 per person before inheritance tax becomes payable at 40% on the balance of an estate.
Families should plan ahead through Wills, Property Protection Trusts, Revocable Life interest Trusts etc. to prevent the 40% tax from eating into their future wealth