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Inheritance Tax UK: Britons feel 'disgusting' tax should be abolished as repayments soar | Personal Finance | Finance

“They may reflect changing asset values or exemptions and tax reliefs being allowed. The increase in the number of repayments could also reflect changes in HMRC administrative processes.”
But IHT can be complex, and it is important for Britons to understand how the tax system works.
Ms Neale added: “Broadly speaking, IHT is designed and administered so that where assets are realised by the executors within a reasonable period of death IHT is charged on the sale price, rather than the value at death.
“This is because for many asset classes, such as property, valuation is an art and not a science and their value is a matter of opinion and negotiation. ....

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Brexit: How will the trade deal impact inheritance tax? Everything you need to know

| UPDATED: 22:39, Tue, Dec 29, 2020
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Brexit negotiations came to a close recently as Boris Johnson announced a trade deal had been agreed. While this deal is still being analysed, many have already begun to speculate on how financial assets such as pensions could be impacted in the coming years. ....

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Inheritance Tax: 'DIY' Wills surge in popularity - but there are consequences to consider | Personal Finance | Finance

| UPDATED: 21:35, Mon, Dec 28, 2020
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Inheritance tax (IHT) is levied on the estate of a person who has passed away, and is taxable at 40 percent above a particular threshold. With people looking to reduce these costs for loved ones, many have chosen to draw up a will - which has particularly been the case throughout the COVID-19 pandemic. However, the number of people choosing to do this arrangement themselves, rather than consulting a solicitor has drastically increased, leaving some concerned about the consequences for Britons. ....

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