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T12 - How to Deal with Inheritance Tax Rising property prices have recently increased the value of many people’s estates to the point where 40% inheritance tax is due. Currently, you can pass on £263,000 tax-free (£255,000 in 2003/2004). This allowance has risen by about 2% each year since 1997. However, the value of most people’s main asset – their home – has risen, on average, by between 80% and 120% over the last 5 years. As a result, 1.5 million households now face inheritance tax. |
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