IHT is a tax levied on your estate when you die. So, for Franklin, this ticks both boxes. Some consider this to be overly penal, introducing a further level of tax taken on savings after already suffering income tax, VAT and National Insurance to name but three. Paying a further 40% could be a difficult pill to swallow, and may create difficult issues for families, particularly if the family house (often the largest and most valuable asset) has to be sold to pay the tax. For that reason, the tax on certain assets can be paid over 10 years – H M Revenue and Customs (HMRC) of course, charge interest.