Budget IHT figures 'deliberately misleading'

In the Budget last Wednesday, the Chancellor of the Exchequer stated raising the nil-rate band threshold to £350,000 for the year 2010-11 will ensure 94% of estates will avoid paying IHT. However, an estate planning specialists the Way Group says each family normally consists of two estates – one for each partner - with IHT normally only due when the second person dies. It argues converting the Chancellor's estimate from ‘single’ estates to 'family' means in reality 12% of families will be “stung” with an IHT bill within three years. And it warns because of spiralling property prices ...