Could this cost us the home allowance?

Most families will never get close to this. For some, though, it could add tens of thousands of pounds to the tax bill. When a home is left to children or grandchildren, an extra allowance lets up to £175,000 pass free of inheritance tax. Once an estate goes over £2 million, that allowance starts to shrink. From April 2027, pensions count towards the £2 million. Arthur is 79 and widowed, with a house and savings worth £1.9 million and a pension of £400,000. The change takes him over the line and costs his children about £60,000 more. The video shows how a family home bought decades ago, plus a decent pension, can be enough to cross it.

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