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

Pedro Gonçalves
clock
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...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login