Gifting the family home

Meg Saksida considers options for reducing inheritance tax

The British press has been full of headlines on inheritance tax this year, targeting in particular the baby boomer generation who have fortuitously increased their estates over their lifetime, largely as a result of the rise in value of the family home. In 1960, when this generation were starting out their adult lives, the average cost of a house in London was £2,189. In the first quarter of 2019, it was £212,614 (source: Nationwide).