Inheritance tax take hits record high

The Treasury raked in a record £4.84bn in death duties in the 2016/17 tax year, driven up by rising house prices, while the IHT threshold held at £325,000. The total tax free allowance will rise to £500,000 by 2020-21, at which point the threshold is due to be pegged to inflation and rising asset prices. Danny Cox, head of financial planning at Hargreaves Lansdown, said: “There is a long time between now and 2020 for things to be changed. It is unreasonable for people to be taxed on indexed gains, it is just unfair.”

The Daily Telegraph   Daily Express   Independent i, Page: 56

Posted 29/07/2017