Tax advice 'could save £9.3 billion' in UK

Solicitors in Northern Ireland could help save consumers thousands of pounds each on unnecessary inheritance tax (IHT), according to new research.

Unbiased.co.uk has found that the UK's "tax waste mountain" will increase to £9.3 billion in 2008.

That is a rise of £1.4 billion over the level of unneeded tax paid in 2007.

The company found that inheritance tax is the most resented among tax payers, with 20 per cent calling the "death tax" the most resented.

IHT is one of the major areas where savings could be made, with unnecessary payments set to rise by more than £360 million in 2008 to a total of more than £1.9 billion.

Chief executive of Unbiased.co.uk David Elms has said that tax payers will waste an average of £290 in taxes each during 2008 which will be "practically gifted to the taxman".

"We have seen a lot of talk about stealth taxes and IHT but our figures prove that it hasn't changed the way people deal with this tax and too much money is still being wasted," he said.

For those with assets over £300,000, huge savings could be made by consulting with independent financial advisors and solicitors in Northern Ireland to help minimise tax liabilities.

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