Inheritance tax is, unfortunately, something that all estates in the UK will likely have to consider. It is a tax that applies to any possessions, money, or other assets left behind in a will.

In this second part of our look at inheritance tax, we’re going to look at some other ways you can reduce your inheritance tax burden. Check out the first part of our look at inheritance tax here.

Tax on the inheritance of property has existed in the UK since probate duty was first introduced in 1694. But it's only in recent years that it has become a significant consideration for large swathes of the population. While house prices have escalated, inheritance tax thresholds have remained the same or even reduced. More people now face the prospect of falling foul of inheritance tax legislation than ever before.

As of tax year 2022/23, the inheritance tax property allowance is £175,000, offering some tax relief when you are estate planning.

If a person had a will, it should be read as soon as possible after their death. You’ll usually have the executor read the will and start sorting out the estate. When beneficiaries see the will, the answer depends on a few things.

Which?, the UK consumer champion, are the Online Will Writer of The Year and provides an easy and affordable way to write your will and ensure the people you care about are looked after when you are gone. Their services include specialist reviews, printing and delivery to your door.

IR35 is a tricky piece of legislation that could impact you if you work as a contractor or are considering doing so. Knowing how to navigate this self-employed ruleset can be the difference in paying more tax.

You may have a list of wishes you want fulfilling after you die. But are there really things you should never put in your will? It’s time to reduce the fog around will writing to help you decide what happens to your possessions.