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Couples able to pass on £950,000 tax-free as inheritance threshold to rise - MSE News
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Former_MSE_Naomi
Posts: 519 Forumite
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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'Couples able to pass on £950,000 tax-free as inheritance threshold to rise'
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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?0
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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.0 -
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)0
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