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CGT on inherited property.
3stones
Posts: 49 Forumite
I read an article the other day regarding possible budget changes to IHT. CGT to be payable on inherited family homes so a home bought for 5k back in the 60s and now priced at £500k being CGT for £495K is one suggestion being mooted alongside a an annual tax free gift allowance of £30k. Will this lead to a deluge of equity release schemes to avoid the CGT on death or is there another way around this. I would like to pass our wealth down but the main bulk of it only upon our passing on. We would hate for a tax grab by our wasteful government. Just wondered what strategies others would employ if they were of similar mind to us.
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Comments
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where did you read it?
how authoritative is that source?
speculation is pointless until facts are known, tax planning is about details of the law, not gossip.0 -
You promise you wont laugholdbikebloke said:where did you read it?
how authoritative is that source?
speculation is pointless until facts are known, tax planning is about details of the law, not gossip.
......Here in the Daily Mail.
https://www.dailymail.co.uk/money/pensions/article-7943727/Should-inheritance-tax-replaced-10-gift-tax.html
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