Inheritance tax receipts skyrocket to record high as Britons hit with ‘stealthy’ tax | Personal Finance | Finance

Shaun Moore, a tax and financial planning expert at Quilter, broke down how people are being “caught in the net” of IHT.

He explained: “Given house prices are still yet to see the dramatic fall predicted, far more people who may not consider themselves wealthy could be caught by the IHT net as their property value has grown significantly in recent years.

“With more people facing an unwelcome – and in some cases unexpected – IHT bill, seeking professional financial advice where possible will be vital.

“IHT can be complex, particularly when it comes to the rules and restrictions of certain aspects such as the residence nil rate band, so professional support can help take the pressure off while also helping to mitigate costs through careful financial planning.”