Inheritance Tax UK: How rules on property could affect your estate and final bill

The amount could be substantial for many people, as coupled with the IHT threshold, it could shield their loved ones from a higher tax bill. 

In the current tax year, taking into account the £325,000 threshold, couples could be exempt up to £1million.

For single people, the sum is halved to £500,000, but this is still a significant amount. 

In attempts to avoid taxation for their loved ones, some people may choose to give away a home before they die.


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