Avoid paying excessive inheritance tax, says unbiased.co.uk

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Avoid paying excessive inheritance tax, says unbiased.co.uk

Visiting an expert could help people to avoid paying excessive amounts of money in inheritance tax and other fees related to such transactions, according to a spokesperson for unbiased.co.uk.

Chief executive of the website Karen Barrett highlighted how the issue of inheritance tax has come into the public sphere due to the Conservative Party's pledge to increase the threshold of the levy to £1 million.

She recommended visiting an independent financial advisor, who will be able to offer guidance on how to plan a family's finances to ensure that provisions are made, since unbiased.co.uk recently discovered that UK taxpayers will waste £2 billion in 2010 on inheritance charges.

"Our annual Tax Action report shows that vast sums are being lost from estates every year because the deceased had not made adequate provision for inheritance tax," remarked Ms Barrett.

The same firm pointed out that another issue that has become a talking point in the run-up to the general election is the default retirement age, after the Conservative Party revealed that it intends to scrap it.

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