Tax expert urges people to use 'valuable HMRC loophole'

UK families are being urged to exploit HMRC's 'most valuable inheritance tax loophole'. Tax specialist Mike Warburton addressed the Telegraph in a Q&A session, responding to tax queries from British households.

Mike outlined how inheritance tax receipts are set to double over the next five years, reaching a staggering £14.3bn.

He said: "It is therefore all the more important that we take full advantage of any savings legally available."

Mike highlights that one of the most beneficial, yet potentially misunderstood, methods of reducing inheritance tax is through making regular gifts from income, reports Birmingham Live .

One reader enquired: "My wife and I have shared finances. Our incomes are very different, and are reported ea

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