Inheritance tax quiz: How much do you know about Britain’s ‘most hated’ tax?

Inheritance tax (IHT) is often described as the “most hated” tax out there, but a significant number of people know very little about how it works.

Around 71% of UK adults do not understand inheritance tax, a survey by investment manager Schroders found, and it’s not hard to see why.

The tax has a number of different allowances, caveats, and thresholds that can make it an incredibly complex topic – but sooner or later most of us will have to contend with it.

As tax-free thresholds remain frozen and house prices rise, plus new rules about inheritance tax on unused pensions loom, more people face being affected by the levy.

How much do you know about inheritance tax? Test yourself in our quiz.

How well did you do in our inheritance tax quiz? Share your results on social media.

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