Inheritance tax 'unfair' say Britons
A majority of people in the UK claim inheritance tax is unjust, according to a survey just published.
Nearly six out of ten people believe the tax threshold should be pushed higher as more and more are caught out by the levy because of rising house prices, claimed the survey from insurer Friends Provident.
Inheritance tax is levied on estates valued at more than £263,000, apart from those transferred between spouses.
Figures published by Halifax recently showed that 2.4 million UK households are worth more than £263,000.
In the last tax year, 32,000 households were liable for the tax, a 28% increase on the previous 12 months.
‘Many families are now only beginning to realise that their future inheritance is at risk because of the boom in house prices in recent years,’ Ian Jeffries, head of investment marketing at Friends Provident told BBC News online.