Summary
Caught in a trap meant for the rich Vast numbers of ordinary homeowners are falling into the inheritance tax net, a levy originally intended as a tax on the rich.
They have been trapped by surging house prices, which have far outpaced annual increases in the threshold that triggers IHT.See the full content of this document
Extract
Caught in a Trap Meant for the Rich
According to the National Audit Office, the number of estates liable for the tax has soared 70 per cent in the past five years and in 2003 it raised Pounds 2.5 billion for the Treasury.
The annual threshold th...See the full content of this document
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