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Survey reveals widespread misconceptions over IHT

is aware that IHT is charged at 40 per cent and just 27 per cent of people have a will.

Friends Provident head of wealth management Christine Foyster says: “This is no longer a tax on the rich. Ordinary people are being caught unawares by the IHT trap, mainly because property price gains have so completely outstripped any increases in the inheritance tax threshold.

“No doubt, the argument over keeping, abolishing or reforming IHT will rage on but I hope that it does not distract people from the main issue at hand, which is how they can stop this tax from hitting their family.”

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