IHT changes criticised
Raising the threshold of inheritance tax by only a small amount in the budget is set to push over 1 million households in the South East alone over the limit, according to Savills


Gordon Brown's announcement that the threshold for inheritance tax is set to rise by £65,000 in three years does little to alleviate the tax burden, said Savills research today. The Chancellor announced in his budget that the threshold will be raised from £285,000 to £350,000, but not until the end of the decade. Meanshile the number of properties liable for the tax is only likely to grow in the years leading up to the change. Savills estimates that around 17% of all households in England and Wales are currently valued at over £285,000, and this number is only set to grow. Yolande Barnes from Savills Research said: 'Our forecasts for house price growth suggest that a further 106,000 properties will increase in value sufficiently to push their owner's estates over the current threshold.' Savills' figures also claim that if the threshold is not raised further than was suggested today, over 1 million households in the south east alone, and just under 1 million in London, will be potentially liable by the end of the decade on the grounds of housing wealth alone. Click here to read more on this year's Budget and rural dwellers.
Exquisite houses, the beauty of Nature, and how to get the most from your life, straight to your inbox.
-
Rock stars and the country house: Liam Gallagher's life in the Cotswolds is in the finest tradition of music A-listers, from the Beatles to Beyoncé
What is it about the British countryside that draws A-listers from every walk of life? With Liam Gallagher's Cotswold former home on the market, Toby Keel takes a look.
By Toby Keel Published
-
‘Activities are of the derring-do variety, and the weather is unreliable year round, so it’s useful to be a good sport’: A memorable road trip to the tidal island in Scotland where J. M. Barrie liked to holiday
The opening of three new hotels in Scotland was all it took to convince Jo Rodgers to journey northwards on a road trip with her husband and three young children in tow.
By Jo Rodgers Published