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
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.
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The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
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