Changes to inheritance tax in Britain could affect Irish property owners

INHERITANCE tax should be fairer and rates should be hiked to 50% for the very wealthy, according to a leading British think-tank.

The Institute for Public Policy and Research (IPPR) yesterday proposed a series of radical reforms to the inheritance tax regime in Britain, which if accepted by parliament could affect Irish people who own property in Britain or Northern Ireland.

The IPPR's proposals would raise up to stg£150 million (€225 million) for the UK Treasury but would mean that nine out of 10 taxpayers would end up paying less inheritance tax.