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Which? warns over missing out on POAT

Which? has published a book called Giving and Inheriting, aimed at flagging the deadlines for pre-owned assets tax.

The book points out that even with modest earnings, as the IHT threshold is currently 275,000 increasingly more homeowners are at risk of bequeathing estates that will be due tax.

POAT, introduced in April, aims to plug loopholes in IHT, such as people who might have given away their home using a previous tax avoidance scheme, but continues to live in it, may now have to pay POAT on the value of any benefit they might get from living in the home.

Which? author of Giving and Inheriting Jonquil Lowe says: “After several years of significant house price rises, many people worry that Revenue & Customs rather than the family will inherit their estate when they go.

“The book helps you to work out whether you have reason to worry and, if so, what you can do to minimise or even eliminate any tax charge, including POAT options.”


Countryside is hit by 185,000 second homes

The social policy research organisation says these properties tend to be in rural areas with hugely below-average owner-occupier rates as local people are priced out of buying homes. The wide-ranging research, which covers housing, employment, health, education and welfare, also reveals a “work rich” and “work poor” divide. While unemployment in the key financial districts, […]


Wheel thing

Barclays Global Investors’ brand of exchange traded funds, iShares, is to sponsor the Zuri-Metzgete cycling event, taking place in Zurich on October 2. The event, which has now been catchily renamed the iShares Zuri-Metzgete, has been held for 92 years. As one of the final stages of the Pro Tour circuit, the gruelling 241km race […]

Default lines

Clare Bettelley analyses the growing business of mortgage securitisation and what can happen when things go wrong

IF slashes two-year offset deal to 4.99%

Intelligent Finance is reducing its Offset 80 tracker mortgage two-year discounted rate by 0.4 per cent, to 4.99 per cent. The company says the move shows it going one step further than its decision earlier in the month to pass on the Bank of England’s 0.25 per cent base-rate cut to all its variable mortgage […]

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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