Around 4.3 million homes could be liable for IHT by 2020 if the threshold is
only increased in line with retail price inflation, the bank warned.
Currently the average house price in 236 postcodes districts is above the IHT
threshold of £300,000 due to the boom in house prices over the past few years, a
Halifax survey revealed.
However the figure has almost doubled since 2001 when 117 postcode districts
were revealed to be heavily taxed with IHT.
Tim Crawford, group economist at Halifax, said: ‘The potential reach of
inheritance tax is extending year by year across the country.
’We call on the government to raise the inheritance tax threshold to
£460,000. That would account for the significant rise in house prices over the
past 11 years.’
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy