The average UK house is worth more than AGBP150.

The average UK house is worth more than AGBP150,000 and fireside ownership is at nearly 70% of the population. It is not surprising, therefore, that there has been a great deal of interest in schemes designed to take the family hearthstone out of the tax clear but allow the owner/s to continue in occupation.

Although an traditional options still remain (see Exemptions), principally of the more attractive (and familiar) property-based schemes have now been defeated through amendments to the inheritance tax legislation or will be heavily impacted through the new pre-owned asset charge.

Taxpayers caught at ...