People are being urged to plan ahead now in order to avoid the tax A wealth expert shared advice for families (stock photo) (Image: Getty)

People planning their finances are being urged to think several years ahead to avoid a hefty 40% tax bill, as an increasing number of families are finding themselves within the scope of inheritance tax (IHT) . ‌

Rising property values and general inflation are causing people's estates to grow in value, pushing more individuals beyond the tax-free thresholds and into paying the HMRC levy. Lorraine Wilson, principal associate in the private wealth team at national law firm Weightmans , warns that growing numbers of people are being pulled into paying the tax "without realising it". ‌

She says the tax is not exclusively for the super

See Full Page