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14/05/2009
IHT loss may show need for wills advice |
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Inheritance tax (IHT) has been predicted to cost Britons £2.2 billion in unnecessary payments this year.
Research by Unbiased.co.uk revealed that poor planning is causing the levy to be the one through which taxpayers waste the most, with an increase of 16 per cent on 2008.
Those who want to avoid having their inheritance go to waste in this way may wish to seek advice on drawing up a will, in order to ensure errors in planning are not made.
David Elms, chief executive of Unbiased.co.uk, suggested that obtaining help is "crucial" if the "extraordinary" losses are to be prevented.
"This can prove an additional unwelcome stress for the deceased's family at an already difficult time, since this tax must be paid before the estate is released," he said.
Meanwhile, the Yorkshire Post has noted that an increasing number of wills are being challenged in the current economic climate, something that could indicate a need to ensure they are properly drawn up.
Written by Laurence Smith
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