Inheritance tax planning allows super-rich to pay half as much

The UK's super-rich are paying just half the effective inheritance tax rate of many smaller estates, according to an analysis of HMRC data by Canada Life. Estates worth £10m or more paid an average of 10% tax to the exchequer in the 2015-16 tax year compared with an average 20% tax paid by estates worth £2m-£3m, according to data released by HMRC. The data comes from HM Revenue & Customs inheritance tax forms for the 2015/16 tax year. The law states that estates should pay 40% tax on...