Just 24hrs before the Budget 2015
This is a very important budget for the government as it comes just before the election on the 7th May, it will be a Conservative/Lib-Dem budget in reality and both parties in the coalition will be looking to gain popularity from it.
According to a report by The Guardian out today it says, George Osborne has drawn up plans that would allow parents to pass a main property worth up to £1m to their children without paying any inheritance tax, according to Treasury papers leaked ahead of Wednesday’s budget.
The proposed measure would also reduce the inheritance tax bill on properties worth up to £2m by £140,000 and the Treasury analysis concludes that the scheme would “most likely benefit high income and wealthier households”.
Let’s hope the Budget tomorrow will help in maintaining the momentum in the property sales and lettings Industry. Like many I will be listening to the budget tomorrow and will try to post anything relevant to the property Industry to Breaking News throughout the afternoon.