An elderly couple who were sold an unnecessary plan to save Inheritance Tax have been compensated after a complaint was made against a high street bank.

The 90-year-old husband suffers from dementia. In spite of this, and the fact that he and his 88-year-old wife were inexperienced investors, the bank advised the couple to undertake the plan. Although the bank denied that it was in any way negligent, it agreed to reimburse the couple, paying them £87,000 in order to put them back in the position they would have been in had they not signed up for the plan in the first place.