Inheritance Tax: Three Ways to Get Their Children to Pay Less Inheritance Tax | Personal finance | Finance

Whereas inheritance tax remains the most hated tax in Britain, Tory leader candidates Liz Truss and Rishi Sunak have both suggested they will review inheritance tax rules if they become prime minister.

Although the outcome of any eventual review is entirely uncertain, some are hoping it could mean scrapping the tax, reducing the rate by 40 per cent or raising the threshold which has been frozen since 2010 at £325,000.

However, there is no guarantee that the rules or thresholds for inheritance tax will change, meaning that more people will have to pay tax in the future.

Graham Southhorn of Maplebrook Will Writing Bristol said there are three key things Brits can do in their lifetime to ensure their loved ones don’t end up with a hefty tax bill.

READ MORE: Caregiver allowance explained – could you claim £369 a month?

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