A growing number of people are investing in small unlisted companies as a means of passing on wealth and reducing their Inheritance Tax bills, private equity investment firm Growthdeck has claimed.

The amount of tax relief claimed on investments in unlisted companies and other business assets passed on in estates jumped 64 percent last year to £1.4 billion, up from £828 million the year before.

However, according to Growthdeck, not enough people are aware of how this tax relief can be used as part of Inheritance Tax (IHT) planning.

The amount of tax relief claimed on investments in unlisted companies is a fr...