12% of Properties Above Inheritance Tax Threshold
Survey by Halifax shows rise in taxable owner-occupied properties
21st November 2005
New research from Halifax has shown a rapid rise in the number of properties valued above the threshold for inheritance tax, payable when the property changes hands because of the owner's death.
The threshold is currently £275,000, and the rapid rise in property prices over the last decade has brought more and more properties into the taxable band. The research says the percentage now stands at 12%, up almost three-fold over the past 5 years, representing over 2 million individual owner-occupied homes.
Other findings include the fact that in one in ten local authorities surveyed, the average house price is now above the threshold.
Read More: Halifax Press Release
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