In 1996/1997 the Government received £1.6 Billion in Inheritance Tax.It is estimated that this sum could more than triple by 2020(Figures HBOS 2006).

 

Believe it or not the Governments estimate of Inheritance Tax revenue of £3.3 Billion anticipated for 2005/2006 is far greater than that of duty on petrol sales(£2.1 Billion).

 

It is no coincidence that these figures are directly linked to rises in house prices in recent years. Inheritance Tax is  no longer a tax preserved for the super rich, it can affect people who have enjoyed what they may regard as a fairly average lifestyle.

 

Here at Reed Solicitors we have built our experience upon real life examples, and people regularly come to us concerned about the money which they have worked hard for all their lives disappearing into the Treasury's coffers rather than being preserved for their loved ones. The average Inheritance Tax bill in 2005/2006 was £94,286 and we think we know where you would rather see that money go at the end of the day..

 

We are able to either extinguish the payment of Inheritance Tax altogether, or at least significantly reduce that payment.