Probate fee increases ‘amount to stealth tax’

A House of Lords committee has criticised the Government's plans to increase probate fees, saying they amount to a "stealth tax" and a "misuse of the fee-levying power". Probate fees in England and Wales are currently charged a flat rate of £155 if the application is...

4 in 10 feel inheritance burden

Around four in ten people who deal with administering a loved one's estate without using an adviser spend more than two days on the task, according to a survey. The Office of Tax Simplification (OTS) found 38% of 3,000 respondents said it had taken them more than 50...

OTS recommends digital inheritance tax system

The Office for Tax Simplification (OTS) has urged the Government to implement a digital system for inheritance tax, following complaints that the current form-filling system is too complex. On average, there are around 570,000 deaths in the UK every year, and...

2 in 3 parents have made no provision for children

Most parents have made no legal provision to determine who would look after their children if they were to pass away, according to research. A study of 2,002 adults by Direct Line Life Insurance found that 65% of parents had not made any legal arrangements for this...

Quarter of over-55s unaware of pension tax

More than a quarter of people approaching retirement are unaware of the tax charge they will face if they withdraw their pension savings as cash. According to a survey of more than 2,000 over-55s by Legal & General, 27% believe they can access their pension pot...
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