As many as 150,000 married people that die each year are ISA holders, the Tax Incentivised Savings Association (TISA) have said.
Thousands of grieving spouses are unnecessarily paying tax on inherited ISAs
Inheritance Tax gap at £600 million a year
The Office of Tax Simplification (OTS) has found that the tax gap for inheritance tax is £600m a year despite a steady increase in receipts seen by HM Revenue & Customs.
Report calls for Government to revamp Inheritance Tax system
A new report has called for the Government to move to a new fully digital system for inheritance tax (IHT).
IHT ‘not keeping up with property prices’
News that the Treasury’s Inheritance Tax (IHT) take has hit a record high in the past year has sparked concerns that IHT is not keeping up with the pace of UK house price growth.
Could your family benefit from a deed of variation?
UK families are being urged to consider the benefits of setting up a deed of variation (DOV), which may be able to help families to resolve difficult Inheritance Tax (IHT) issues after the death of a loved one.