Rachel Lacey

Fifth of parents give children inheritance early

One in five parents has given money to their children in an attempt to reduce the amount of inheritance tax their families will have to pay when they die.

A total of £227 billion has been transferred, with the average value of assets given away £32,920, according to research from Direct Line. A further 19 per cent have not given their children any money yet, but plan to do so in the future.

Married couples missing out on £900 tax perk

One million couples are missing out on the marriage allowance, according to new figures released by the government. This amounts to as many as one in four eligible couples.

This year, the allowance could save married couples £238 in tax, but those that are able to back date claims to April 2015 when the allowance was first introduced, could be able to claim as much as £900 in total.