I was looking at the inheritance tax calculator at http://www.surewill.co.uk/inheritance_tax_calculator and it turns out that when my folks are 'no more' so to speak, I'll have to pay around £45k of inheritance tax! Most of that is because of the house, which is only a modest semi-d. With house prices going up every year, I was just wondering how many other people are in a similar situation. The website talks about avoiding the tax, can anyone shed some light on how I might go about doing that?
Thanks!