Inheritance tax is known as a tax on the rich.
Yet this couldn't be further than the truth. An increasing number of ordinary families are falling within the inheritance tax bracket - the result of booming share prices and rising house values. Yet it is quite simple to reduce an inheritance tax bill with careful tax planning. Inheritance tax affects any estate worth more than 234,000. That covers all your assets - your house, its contents, investments, other assets and perhaps money accumulated in a pension fund.