Property makes over 50% the wealth of estates in London paying IHT

Analysis reveals that property makes over 50% the wealth of estates in London paying inheritance tax (IHT) – around twice as much as most other regions - with an average value of over £820,000. Retirement specialist Just Group revealed that in 2019-20, the latest financial year of available data, the average estate value in the capital was over £1.4m, nearly £200,000 higher than the South East which was the region with the second highest average estate values. The proportion of housing wealth in IHT-paying estates dropped to 39% in the South East, at £604,000, 36%in the East of England (£524,000), 32% in the South West (£474,000) and 31% in the West Midlands (£398,000) but then falls to a quarter or less in all other regions. 

City AM (09/01/2023)