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IFA warns against Brown&#39s IHT pledge

The Millfield Partnership investment specialist Anthony Clements welcomes the rise of the inheritance tax band to £263,000 but warns the Chancellor is underestimating the number of estates that will be affected by IHT.

Clements says: “Although the move does not reflect, nor has it done in previous years, the rise in people&#39s wealth and in particular the value of their main asset, their house. While Gordon Brown says that 90 per cent of estates will be IHT free, I am convinced that the recent rises in house prices mean that more and more people&#39s estates will be subject to IHT, perhaps without them being aware of this while they are alive.”

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