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ScotEq maps out house hotspots facing IHT trap

High property prices have created hot spots in the UK where homebuyers face inheritance tax liability, says Scottish Equitable.

Property owners in Greater London are most likely to have inheritance tax liability as the average house price is £232,830. IHT is levied on estates over £250,000.

Others hotspots include Bath, where the average property price is £34,000 below the IHT threshold. A similar level of liability is a problem in Tunbridge Wells, where the average house price is almost £220,000.

The North of England is least likely to be affected as the average house price is just £73,444.

Scot Eq has produced a map, plotting out the hotspots, for IFAs. They can get a copy by contacting their local Scot Eq branch.

Technical manager Margaret Jago says: “Inheritance tax now affects more people than ever before, partly due to the dramatic rise in house prices in recent years. We have mapped out the hotspots to demonstrate how different areas are affected. IFAs are uniquely placed to help clients reduce their liability.” director Jo Roberts says: “Most IFAs should already know the threshold and how much their clients&#39 houses are roughly worth. But the map could be useful as a sales aid to bring this to their clients&#39 attention.”


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