Inheritance Tax threshold to be frozen

icecube with pound symbol insideThe government has abandoned its pledge to reform the Inheritance Tax system and frozen the threshold at £325,000 per person until at least 2019. Broadly speaking, a single person will pay Inheritance Tax at a rate of 40% on any assets over the £325,000 threshold, which is doubled to £650,000 for couples. Taking into account inflation and growth in asset prices changes will mean an effective increase in the amount of Inheritance Tax which will be paid by people, whilst more ...