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Inheritance tax: Britons warned to ‘act now’ after Jeremy Hunt’s five year freeze

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“The transferable nil-rate band means that when you pass away, your surviving spouse will inherit any of your unused inheritance tax allowance, potentially allowing them later to pass on up to £650,000 tax-free.

“This amount that can grow to £1million if a married couple leaves their home to their children or grandchildren on the second death, provided the estate is worth less than £2million.”

Ms Rosenbloom also noted how putting life insurance policies in a trust is “another good idea” that is “more straightforward” than it sounds.

She said: “Money purchase pensions are a very useful estate planning tool. If you die before 75, whether you have touched the pension or not, you can pass on a pension pot free of inheritance tax and income tax for the beneficiaries.”



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