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£1bn wasted in unnecessary inheritance tax

Over £1bn in unnecessary inheritance tax will be paid this year according to IFAP.

The latest figures from the trade body&#39s Wasted Tax campaign shows that estates with a total value of almost £36bn will apply for probate with £2.3bn going to the taxman.

Almost 68,000 people this year will die without leaving a will, meaning that if the state cannot trace an heir the taxman takes the whole estate.

IFAP advises that people enlist the help of an IFA to beat inheritance tax

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