Inheritance Tax UK: These rules on property could affect your final IHT bill | Personal Finance | Finance

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The amount could be substantial for many people, as coupled with the IHT threshold, it could shield their loved ones from a higher tax bill. 

In the current tax year, taking into account the £325,000 threshold, couples could be exempt up to £1million.

For single people, the sum is halved to £500,000, but this is still a significant amount. 

In attempts to avoid taxation for their loved ones, some people may choose to give away a home before they die.





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