What if I’m a basic rate taxpayer?
Many people think they won’t be liable for Inheritance Tax if they are paying basic rate tax, but often that is not the case. And, even if your home were worth less than the IHT threshold you’d be surprised how much your estate might be when you add up all your other assets, which might also include the proceeds of a life insurance plan. If you only pay basic rate tax now, you might become a higher rate taxpayer after your death!
