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RECENT figures from the Land Registry calculate that the average house price in London and the South East is now £220,000. With prices still rising steadily, more and more people will end up sitting in the tax man’s sights when they come to sell that property on as a result of the death of the owner.
The problem is that many people do not fully appreciate it is the seemingly ordinary properties that qualify. John Selwood, of Reeves & Neylan, said: “People do not realise until it is too late that it is possible to plan ahead and avoid the tax. In fact, it can be comparatively easy to avoid.
“All you have to do is transfer your assets to your beneficiaries - and make sure you stay alive for a further seven years. ”