Budget: Stamp duty and IHT thresholds increased

In addition, Gordon Brown has also increased the inheritance tax (IHT) threshold from £263,000 currently to £275,000 from 6 April and then to £285,000 in 2006 and £300,000 in 2007. The Chancellor says the increases in the IHT threshold over the next three years will result in 94% of estates in Britain no longer having to pay the tax. The increase in the initial stamp duty threshold will affect any residential property transation with a completion date of tomorrow onwards. There are however, no changes to the higher threshold of £150,000 for properties deemed to be in disadvantaged areas, ...