Halifax says IHT threshold should be raised

The lender says the amount of IHT revenue collected in the first half of 2006 already matches the total IHT revenue collected over the full financial year 1997 to 1998. In the last financial year the government collected £3.3bn in inheritance tax revenue and projects £3.6bn in revenue will be collected in the current financial year. The lender says the percentage of properties projected to sit above IHT threshold by 2020 is around 20% of all UK homes. It also estimates the number of properties in the UK valued at more than the current IHT threshold of £285,000 now stands at 1.5 million,...