Six inheritance tax myths debunked

Life’s two certainties — death and taxes — come together to form the confusing world of inheritance tax. Here is everything you need to know about the misunderstood space to help save you money.

Woman looks worried as she stares at financial document beside her laptop at kitchen table.
Inheritance tax is set to affect more people as house prices rise, thresholds remain the same, and rule changes come into effect.
(Image credit: jeffbergen via Getty Images)

The rules and regulations around inheritance tax (IHT) can be fiendishly confusing, complex and, if you’re not careful, costly.

Taking away hard-earned wealth after loved ones have passed away is unpopular to say the least. Many point out that IHT is a double taxation given that it’s likely other taxes will have already been paid on much inherited wealth such as income tax and capital gains tax.

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Contributor

Holly Thomas is a freelance financial journalist covering personal finance and investments. 

She has written for a number of papers,  including The Times, The Sunday Times and the Daily Mail. 

Previously she worked as deputy personal finance editor at The Sunday Times, Money Editor at the Daily/Sunday Express and also at Financial Times Business.

She has won Investment Freelance Journalist of the Year at the Aegon Asset Management Media Awards in November 2021. 

With contributions from