Thousands more families will be required to pay inheritance tax (IHT) this year as an improving economy and rising house prices pull them above the threshold, according to figures.
A total of 35,611 deaths will result in estates being charged IHT in 2014-2015, up 35% on the 26,337 recorded during the last financial year. The figures are based on Sunday Telegraph analysis of Office for National Statistics forecasts for death numbers and Office for Budget Responsibility (OBR) projections of estates expected to become liable for the tax. In 2015-2016, the number of estates liable for the death tax will rise to 43,811 and, by 2016, the number of families who must pay death tax will have risen by 66% in two years, according to the analysis. Inheritance tax is levied ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
