Royal London backs IHT exemption call for life policies

Royal London has backed a call by the Office of Tax Simplification which could lead to life insurance policies being automatically exempted from Inheritance Tax to save families money.

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Average Inheritance Tax bill for 2018/19 close to £200,000

The average inheritance tax bill reached almost £200,000 in the last tax year - up £60,000 in five years, according to analysis of HMRC receipts by financial advice firm and insurer NFU Mutual.

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Editor’s Comment: Taxman’s IHT greed needs curbing

Our story this week about the Treasury’s record IHT tax grab in the past year is a worrying portent of things to come, I fear.

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IHT grab jumps £164m in one year to £5.4bn

Families have been hit with a record £5.4bn in Inheritance Tax (IHT) bills in the past year, according to new analysis.

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