The Tax Rule Keeping Millions Of Homes Off the Market

The Tax Rule Keeping Millions Of Homes Off the Market

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Tax alert: Andy Burnham could target families in 'double blow' £120,000 capital gains HMRC raid

Thousands of Britons face a "double tax blow" on family assets under rumoured proposals being considered by the likely next Prime Minister Andy Burnham.Analysts warn that households should prepare for a levy on inherited assets should Mr Burnham's Labour Government pursue anticipated capital gains tax (CGT) reforms.The calculations reveal that beneficiaries selling a family home that has appreciated by £500,000 could be landed with a tax bill ap…

UK families face £120,000 Inheritance Tax bills under ‘double blow’ rule change

UK families could face a £120,000 Inheritance Tax increase if two rules are changed.

Families could face £120,000 tax bill when inheriting homes

Families inheriting property could face Capital Gains Tax (CGT) bills of almost £120,000 under potential reforms being discussed by policymakers, according to analysis from Rathbones. The firm's calculations suggest that abolishing the long-standing CGT uplift on death would leave beneficiaries paying tax on gains accumulated… The post Families could face £120,000 tax bill when inheriting homes appeared first on Mortgage Finance Gazette.

Families could face £120,000 tax bill on inherited property if CGT reforms go ahead – Rathbones

Analysis found that, at a 24% CGT rate, a family inheriting a property with a £500,000 gain could face a tax bill close to £120,000 when they sell.

Families could face £120,000 tax bill on inherited property under mooted CGT reforms