I am in my 70s and want to ensure that I mitigate any inheritance tax bills when I die. 

I am widowed and have three children, all married, and four grandchildren, aged between five and 14. Can you give me any good advice? M.B., Cardiff 

Ruth Jackson-Kirby replies: Inheritance tax, payable upon death, is a growing worry for many people. The inheritance tax threshold – above which tax is charged at 40 per cent – has been frozen at £325,000 since 2009 and will remain the same until at least 2026.

As house prices and inflation rise, an increasing number of estates are becoming liable for the hated death duty.

Not that the Government minds. Her Majesty’s Revenue & Customs is enjoying record-breaking IHT receipts with £6.1billion received in the tax year ending April 5, 2020, the latest statistics available. This is up 14 per cent on the previous year. The average IHT bill is now £216,000.

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