Posted: Tuesday, 24 September 2019 @ 08:49
As has recently been reported in the Telegraph more people are paying IHT (inheritance tax) than at any time in the past. IHT receipts have reached their highest in history - £5.4 billion in 2018-19 according to data from HM Revenue.
And a reason for this state of affairs? Since 2009 average house prices have increased by more than 50% but the £325,000 tax free allowance has remained unchanged.
Had the allowance increased with inflation it would now stand at £423,000.