Carl Lamb on Inheritance Tax Allowances
- Credit: Smith & Pinching/Getty
This week our reader wants to know how inheritance tax works.
Reader question:
My parents are in their early 80s and in good health.
They are quite wealthy but are not in the habit of talking to us – their three children – about money matters.
My dad said recently that he didn’t think there would be any inheritance tax to pay when they die but I’m concerned he might be wrong. Can you explain how inheritance tax works please?
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Carl Lamb of Smith & Pinching responds: