Apr 15 2008
A report from Close Investments has suggested that there is a widespread ignorance among British consumers about the range of issues relating to inheritance tax (IHT).
Research by the company found that more than nine in ten independent financial advisors (IFAs) believe that efforts should be made to help people gain greater awareness of the IHT issues.
A full 100 per cent of the IFAs polled by the financial services firm said IHT is important for their clients but only a quarter feel that the people they deal with have a full understanding of the subject.
Robert Meyer, assistant director of specialist sales at Close Investments, said that many consumers are failing to appreciate that they will be affected by IHT because of the property assets they have accumulated.
"There is still ignorance and confusion regarding inheritance tax in the UK," said Mr Meyer.
"With the explosion in the numbers of people affected by IHT there is a need for broader advice and new avenues of enquiry," he added.
Many people look to secure a good financial future for their offspring through trust funds or other vehicles designed as a way of saving for children.
