Inheritance tax raised to £1m
July 6, 2015
David Cameron and George Osborne writing in The Times on saturday confirmed that the threshold at which inheritance tax is levied will rise for couples to one million pounds from £650,000 after April 2017.
The policy will be funded by limiting the amount of tax relief on pension contributions given to those earning more than £150,000 a year.
It was reported that George Osborne will present the measures to parliament on Wednesday, although the Times article did not confirm they would form part of the budget speech.
Both Cameron and Osborne said in the Times: “It can only be right that when you’ve worked hard to own your own home, it will go to your family and not the taxman.”
You May Also Enjoy
Property values climb in Q1
The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market lost momentum during the first quarter of 2026, with house prices showing signs of recovery following the previous quarter’s fall. The Benham and Reeves Market Index Review The Benham and Reeves Property Market Index…
Read More 
Propertymark backs move to commonhold
Propertymark has welcomed proposals from the Ministry of Housing, Communities and Local Government to phase out the sale of new leasehold flats in England and Wales, while warning that the transition to commonhold must be carefully managed to avoid market disruption and consumer confusion. Responding to the UK Government’s consultation on “Moving to commonhold: banning…
Read More 
Phasing out leasehold flats is the right thing to do
Propertymark has welcomed UK Government proposals to ban the sale of new leasehold flats and replace them with a commonhold system designed to give homeowners greater control over their properties. Responding to a consultation launched by the Ministry of Housing, Communities and Local Government, Propertymark said the reforms could help tackle many of the long-standing…
Read More 
Deposit Disputes Are Rising – Are Baths to Blame?
Interior Designers Say Acrylic Baths Are the Hidden Culprit in Family Rentals Deposit disputes over bathroom damage are rising, and acrylic bath surfaces are the overlooked culprit. Acrylic baths are often marketed as lasting 10 to 15 years or more, yet designers say many start to look tired in busy family homes within just a…
Read More 
Inheritance tax haul grows as more families are dragged into the tax net
Inheritance tax receipts got off to a slightly slower start in the first month of the 2026/27 tax year, but the figures still underline how rapidly the tax burden on estates continues to grow. HM Revenue & Customs (HMRC) collected £0.7 billion in inheritance tax in April, £65 million less than during the same month…
Read More 
The 10 biggest homebuyer turn-offs
From overgrown gardens to nightmare neighbours, homeowners across Britain could be knocking tens of thousands of pounds off the value of their property before a buyer even makes an offer. New insight from House Buyer Bureau reveals the most common homebuyer turn-offs that could be thwarting your chances of making a sale, and the…
Read More