Inheritance tax (in Britain, not Canada!)

In London (where I recently visited), newspapers were awash with stories about the HMRC (their Revenue Canada) investigating the tax avoidance plans of individuals who do Estate planning.

Inheritance tax in England is heavy. Some people inherit property, but the inheritance tax makes it impossible to retain the property, and so the property in some cases is relinquished to a national trust.

I presume the tax problem will continue to be discussed.

We don’t have an inheritance tax in Canada. But depending what assets a person owns, and how the assets are owned, they may be taxed on death.

It’s one of the major reasons that Estate planning makes sense.