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2.4m homeowners potentially liable to IHT says Halifax

The number of homes in the UK valued at more than the inheritance tax threshold increased by more than 500,000 in the first half of 2004 according to Halifax financial services. As a result, 2.4m homeowners are potentially liable to IHT.

The 12 per cent increase in house prices in the first half of the year and the 3.1 per cent increase in the IHT threshold in April from £255,000 to £263,000 accounts for the increase of affected properties.

With 74 per cent of homeowners with savings or investments saying their biggest asset is their home, the Exchequer is benefiting greatly from the increased revenue from the housing market, currently taking in £2.5bn.

Halifax financial services chief economist Mike Ellis says: “The government&#39s reluctance to raise the threshold in line with house prices means that more and more ordinary people are now finding that their estate will potentially be subject to IHT. We therefore advise homeowners to plan ahead to minimise the possible impact.”


Holland takes over as commissioner to watch the FSA

Sir Anthony Holland has been appointed as independent complaints commissioner for the FSA, taking over from Rosemary Radcliffe who has held the job since the scheme began in September 2001. Holland has been chairman of the Northern Ireland Parades Commission and was principal ombudsman for the Personal Investment Authority. The complaints commissioner is responsible for […]

The Exchange adds Lincoln

The Lincoln Financial Group has signed up to The Exchange&#39s portal Exweb. IFAs will now be able to access comparative quotations, product literature, and illustrations on a range of new Lincoln products protection and investment products including a new MOM investment bond.

Purely Mortgages receives MTA

Purely Mortgages claims to be the first broker in the UK to receive its minded to approve letter from the FSA. Purely Mortgages chief executive officer Mark Chilton says: “As a new company starting up and with &#39M&#39 day looming, it is essential for us to be first off the mark in terms of getting […]

Derbyshire Building Society relaunches brand

Derbyshire Building Society is relaunching its corporate brand as The Derbyshire. Sailor Ellen MacArthur is the face of the brand, which will be revolving around the values of treating customers and staff fairly. The Derbyshire is introducing two new services, Ratewatch which will keep an eye on competitors&#39 rates to make sure the society&#39s are […]


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