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Couples able to pass on £950,000 tax-free as inheritance threshold to rise - MSE News

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Couples able to pass on £950,000 tax-free as inheritance threshold to rise - MSE News

edited 2 April 2019 at 3:41PM in Cutting Tax
3 replies 1.2K views
MSE_NaomiMSE_Naomi MSE Staff
448 posts
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MSE Staff
edited 2 April 2019 at 3:41PM in Cutting Tax
Parents and grandparents who are passing on their home will be able to leave up to £950,000 tax-free from 6 April, when the inheritance tax threshold is set to rise...
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'Couples able to pass on £950,000 tax-free as inheritance threshold to rise'
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Replies

  • CapitanoCapitano Forumite
    12 posts
    THis is of course very unfair to people who dont have direct descendents and instead took on a ready made family without the formalities as I did. Why should my extended family have to pay more IHT. I would go further -why should childless people be penalised so heavily by the tax system?
  • Keep_pedallingKeep_pedalling Forumite
    8K posts
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    Childless couples are not being penalised, only their beneficiaries are unless those beneficiaries happen to be charities or political parties.

    Think of it as more of an incentive to spend or give away more in your lifetime than a punishment for not having children.
  • what happens if your house has a value greater than the Residence nil-rate band (250,000) but your combined estate value is lower than the total inheritance tax allowance (900,000)
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