Home » Market News » DirectorsTalk Highlights » A guide to inheritance tax
OnTheMarket Plc

A guide to inheritance tax

Changes to the Inheritance Tax system could have far-reaching implications for homeowners

Recent post-Budget analysis may have concentrated on the U-turn over National Insurance for the self-employed, but another tax change introduced on 6 April 2017 could have far-reaching implications for homeowners.

This tax change means parents and grandparents are able to leave homes worth up to £850,000 to their children and grandchildren without them paying inheritance tax. This tax-free allowance is set to rise to £1 million by 2020. This was originally announced by George Osborne, not Philip Hammond, as part of his long-term plan to reduce the impact of Inheritance Tax (IHT) on ordinary families. But what are the thresholds, rates and allowances? Here is our guide to Inheritance Tax.

OnTheMarket plc (LON:OTMP) provides property search services for buyers, sellers, landlords, and tenants in the United Kingdom.

To read the full news article please click here

Receive our exclusive interviews – Enter your email to stay up to date.

Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.