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3.6m face tax on wills.

ALMOST four million people will face paying inheritance tax within three years, it was claimed yesterday.

The estimate of 3.6million is 70 per cent more than in2002,the last year for which complete figures are available.

Financial advisers Grant Thornton and economists Lombard Street Research said inheritance tax (IHT) receipts had more than doubled since the Government came to power in 1997, despite there being no change in the 40 per cent rate.

One reason why so many more people are liable for IHT is because the threshold at which it starts has failed to keep pace with soaring property prices
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Publication:Daily Record (Glasgow, Scotland)
Date:Nov 5, 2005
Words:102
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