On budget day the Government published some research it had commissioned into the way that potential testators and beneficiaries look at certain reliefs for inheritance tax. In particular agricultural property relief and business property relief. The research was a limited project and came to some fairly obvious conclusions.
Richer people were more likely to know about the reliefs than poorer people. Professional advisers had clients who were more likely to know about these reliefs than the individuals interviewed by the researchers. People in agriculture were more concerned with tradition and keeping farms going than their counterparts in ordinary business. One wonders about the real purpose of the research. Are the reliefs costing the Government too much money and are they planning to abolish or limit them?
See the goverment research here.