HSBC says research suggests 10 out of 33 London Boroughs as well as Windsor, Surrey and Buckinghamshire now have average house prices high enough to automatically tip owners into the IHT bracket.
Most people do not realise the value of their home is taken into account for IHT purposes, even where homes are in excess of the £263,000 IHT threshold. The IHT threshold was raised by 3% in the recent Budget, however even the Land Registry’s own index has shown a 12.4% average rise in house prices in the past year, HSBC adds. Meanwhile, residents of Blaenau in Gwent can rest easy: the average house prices of £50,585 leaves room for inflation equal to 212,415 before IHT becomes an issue, HSBC’s figures suggest. IFAonline
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