Families Face Huge Capital Gains Death Tax Under Burnham

Families face huge capital gains death tax under Burnham

Bereaved families could face a huge tax bill under an Andy Burnham premiership if the likely next Prime Minister presses ahead with a policy to hike capital gains tax on assets of the deceased. Supporters of Burnham, including the former health secretary Wes Streeting and ex-transport minister Louise Haigh, have said previously they believe wealth in the UK is undertaxed and have called for reform of the capital gains tax (CGT) system. Among the…

Andy Burnham could slap homes that have gained £500,000 in value with £120k bill

Mr Burnham and his allies have reportedly been mulling over changes to the so-called capital gains tax (CGT) “uplift on death” rules.

Inherited property faces £120,000 tax bill under reforms

Property owners could face tax bills of nearly £120,000 on inherited homes under proposed capital gains tax reforms, according to analysis from Rathbones. The research examines the removal of CGT uplift on death and alignment of rates with income tax bands. The post Inherited property faces £120,000 tax bill under reforms appeared first on PropertyWire.

Inherited property could face £120,000 capital gains tax hit under proposed reforms

Inherited property could face £120,000 capital gains tax hit under proposed reforms - Breaking news for estate agents and the residential property industry. Independent, unbiased, and factual reporting. A forum for discussion and debate of topics of the day. Subscribe for our free daily newsletter.

Families could face £120,000 CGT bill on inherited homes

Families inheriting property could face Capital Gains Tax (CGT) bills of almost £120,000 under potential reforms being discussed by policymakers,