TaxPersonal Tax1 in 5 homes will be above IHT threshold

1 in 5 homes will be above IHT threshold

Halifax calculates an imminent rise in number of homes hit by death duties if current trends increase

One in five average homes in the UK will breach the inheritance tax threshold
by 2020 if the IHT follows retail price inflation trends, Halifax building
society has said.

Following a survey of 482 towns across the country, the country’s largest
lender reiterated its call for the current ceiling of £285,000 to be raised to
£430,000.

The study showed that one in 10 of homeowners buying an averagely priced
house already face the levy, but while house prices have risen by 179 per cent
in the last ten years, inheritance tax has lagged behind only rising by 85 per
cent, the FT reported.

Related Articles

HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

1w Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2w Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

2m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

4m Emma Smith, Managing Editor
Rangers tax case to have ‘dramatic’ consequences for football and business

Legal Rangers tax case to have ‘dramatic’ consequences for football and business

4m Emma Smith, Managing Editor
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

3m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

3m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

3m Alia Shoaib, Reporter