IHT con -millions miss out

No - the IHT threshold didn’t increase to £600,000 as many seem to think. That’s just if you’re married or in a civil partnership.   Divorcees, unmarried parents, co-habitees and carers are among the groups left out in the cold by the recent announcement on inheritance tax. Chancellor Alistair Darling’s announcement meant that millions of couples with homes worth more than £300,000 would be spared the tax. Only 600,000

However, statistics released by the Office of National Statistics last month show that the proportion of married couple families has decreased in the past 10 years from 76 per cent to 71 per cent. There are now more than four million families where the parents are either single parents or cohabiting. If they own a house worth above £300,000, their heirs will potentially face an inheritance tax bill.

Likewise, siblings and carers will still face tax bills if the home they have shared and subsequently inherited is worth more than £300,000. 

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