Billions of pounds are being wasted by British people because of poor inheritance tax planning, a new report has found.
A study by Unbiased.co.uk has shown that £2.2 billion will be lost this year through unnecessary payments due to a lack of preparation for the levy.
The number of such payments has increased by 16% - equivalent to £314 million - compared to last year, the site revealed.
"Our research shows that extraordinary sums are being lost from estates because the deceased has not made adequate provision for inheritance tax," remarked chief executive David Elms.
He noted that this can lead to "unwelcome stress" for the bereaved "at an already difficult time".
Mr Elms advised that consulting an independent financial adviser can help to alleviate this situation.
A recent poll by Unbiased.co.uk showed that inheritance tax was fourth in the list of the most-hated taxes in the UK, with council tax coming out on top.
Brits 'wasting billions' in unnecessary inheritance tax
