Childless to be eligible for Residence Nil Rate Band for inheritance tax

Summary

Ensure that the childless have the same IHT allowances as those who have children, and benefit from both the 'Residence Nil Rate Band' of £175,000 and the Nil Rate Band of £325,000. We feel this is a deeply discriminating and offensive tax against the childless. Massive hikes in house prices have pushed what was once an average terraced home into price brackets nearing a million pounds in the South of England, with accelerating rates across the country. These are property values that can push people beyond the current inheritance tax Nil Rate Band and Residential Nil Rate Band, tax allowances. The childless are taxed at 40% on assets exceeding the tax allowance.

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