Hundreds more Britons may very well be forced to pay inheritance tax this yr as experts warn that it’s not a tax “only for the super wealthy”.
Property prices are continuing to rise despite the fee of living crisis, leading to many now being price greater than £325,000 – the purpose at which IHT is charged.
If the trend continues, the typical UK home could soar above the £325,000 IHT nil-rate band as early as 2023.
Reasonably than being a tax only for the super wealthy, this could mean most individuals’s estates can be subject to HMRC tax.
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