Almost a third of detached house sales liable for IHT tax by Finance News Bulletin

Published: 07/12/07

Almost a third of detached possessions sales are now potentially legally responsible to pay the inheritance (IHT) tax, according to new researchAccording to the Halifax, 29 per cent of separate property sales in the UK are above the 2006/07 IHT threshold of £285,000This compares to five years before when only 13 per cent of separate sales would have attracted IHT above the then threshold of £234,000Halifax calculates that in London 82 per cent of detached property sales occurred above the IHT threshold over the past day, followed by the south-east (59 per cent) and the east of England (37 per cent)

The revenue raised by the administration through IHT has risen by £13 billion since 1996/97 from £16 billion to £29 billion in 2004/05

A further go up is estimated in 2005/2006 to £33 billionhome prices have risen by 176 per cent over the past ten existence The average price now equates to 62 per cent of the IHT doorsill compared with 40 per cent ten years before

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