Nationally, the total inheritance tax (IHT) bill for the 2016/7 tax year has hit £4.9 billion and a further increase of over 20 per cent is expected in the current tax year. The burden is likely to grow as asset prices rise and the government looks for more tax revenue.
Rising house prices in areas such as Sutton Coldfield have drawn many more families into the IHT net. The general threshold of £325,000 at which 40 per cent IHT becomes payable has not risen since 2009, with no increase planned until 2021.
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