Some of the UK's largest estates are paying half the effective inheritance tax (IHT) rate of estates a third their size
The FOI request Canada Life made of HM Revenue & Customs has suggested estates worth £10m or more paid an average of 10% IHT - and thus half the average rate of 20% paid by estates worth between £2m and £3m. Data published for the 2015/16 tax year meanwhile showed estates worth between £6m and £7m had the highest average effective IHT tax rate at 21%. According to Canada Life, these figures show "great inconsistencies" in the way different assets are taxed for inheritance purposes, which leads...
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