Inheritance Tax: Families

Treasury written question – answered on 14th September 2018.

Alert me about debates like this

Photo of Lord Lexden Lord Lexden Deputy Chairman of Committees, Deputy Speaker (Lords)

To ask Her Majesty's Government what consideration they have given to deferring the date that inheritance tax becomes payable on the home of two blood-related joint owners until the death of the second of those two persons.

Photo of Lord Bates Lord Bates The Minister of State, Department for International Development

All individuals benefit from a £325,000 tax free threshold for inheritance tax. On certain assets, inheritance tax can be paid in instalments over a ten-year period. This includes situations where the estate contains a house, provided that the house remains unsold.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.