“The threshold is £325,000… if your estate is worth above that, you pay inheritance tax on the portion above that threshold.”
♫
Said on Which?
“Annual charge of £2,500 for properties >£2 million, £7,500 for >£5 million… considering lowering threshold to £1.5 million… would pull about another 100,000 homes into it.”
Which? · Which tax rises could be announced in this month’s Budget?
Play from 9:35
9:35
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What was described
Explain mansion tax rates and possible threshold change
£2,500 annual charge >£2m; £7,500 >£5m; threshold may drop to £1.5m; adds ~100,000 homes
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