Nearly one in three (31%) over-55s have never checked how Inheritance Tax (IHT) could hit their life savings, according to a new study.

Nearly six in 10 Financial Planners (58%) expect demand to increase for tax and estate planning advice over the next five years, according to a new report.

The number of inheritance tax reclaims reached a six-year peak in 2020 as more families reclaimed overpaid tax following a fall in the value of property or shares.

A report from The Office for Tax Simplification, commissioned by Chancellor Rishi Sunak, has recommended a major overhaul of capital gains tax.