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Inheritance Tax

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#1 temp


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Posted 15 July 2015 - 04:57 PM

As you know the IHT allowance has gone up where a house is involved.

On the radio today they mentioned that if you downsize from a large house to a smaller one and keep the equity you release in cash...then you would still benefit under the scheme. The value of the old house would be used when working out IHT.

It seem there might be quite a few people living in modest houses that might benefit by moving into a larger house for a few weeks.

Can they make things any more complicated?

#2 ProDave


    Self build in the Highlands

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Posted 15 July 2015 - 05:34 PM

Making things "simple" was not on the agenda when writing the recent budget. Witness the confusion about how the changes to tax relief on buy to let mortgages are being treated.