IHT surge from £360bn inheritance windfall says Halifax

Halifax estimates that £360bn in today's money of housing assets will pass from one generation to another over the next 15 years. Halifax also calculates that this transfer of housing wealth is the largest of its kind recorded in the UK. The Pre-Budget report of 5 December 2005 predicted inheritance tax rising by 24% over the three years to April 2007 when the yield will reach £3.3bn. Halifax forecast that the number of estates with property assets would increase from 104,950 in 2002/03 (59% of the total) to 115,347 (65%) in 2019/20.