For many retirees, planning an inheritance tax is not a big goal. It's surprising when you consider that in 2008 the Treasury took over £4 billion in taxes, often referred to as "voluntary taxes". You can also get the best inheritance tax planning advice via https://inheritance-tax.co.uk/area/inheritance-tax/.

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Why Do People Delay Planning for Inheritance Tax (IHT)? According to unbiased.co.uk, 74% of people don't know it!

As a rule, single-family homes are your greatest asset — and there are some simple, easy, and inexpensive ways to remove them from your land. Releasing equity can be an effective inheritance tax planning method, but in some cases it is still characterized by bad past experiences before regulators repealed regulations that later proved to have significant potential drawbacks.

Many people start the inheritance tax planning process by purchasing life insurance to cover any liability, but of course this depends on the associated costs, which are directly related to the options available to elderly customers. Therefore age and disease will make this impossible.

The political effect on inheritance tax planning also means that action is taken in the background – but as the credit crunch will be felt for years to come, increasing the IHT exemption limit now seems very optimistic. IHT is the easiest tax to collect because inheritance is only distributed after the will is issued and the debt to HMG is then settled.