Foresight is fortunate to be based in the beautiful village of Hale, near Altrincham, in Cheshire, and a recent survey by solicitors Irwin Mitchell suggests that local residents – or more accurately, former residents, are among the highest Inheritance Tax (IHT) payers in the UK. Inheritance Tax always comes at the top of the most hated taxes in the UK, with many resenting the fact that assets that have already been taxed are taxed again on death.
Estates in the local constituency paid an average of £451,220 in IHT during 2022/23, placing the area in the top 10 nationally and the only location outside London to feature in the rankings. The figures put the area alongside some of the capital’s wealthiest boroughs including Kensington, Chelsea and Hampstead.
Rising property values
Only nine other constituencies across the UK recorded higher average inheritance tax payments, with Kensington topping the list at £1.375 million per estate.
The results of the survey reflect rising property values and wealth in the region, with property prices and asset portfolios growing significantly over the past few years.
The news comes as the government has introduced significant changes to inheritance tax. From April 2026, business and agricultural property reliefs will be capped at £1 million, while unused pension funds will become subject to inheritance tax from April 2027.
If you would like to learn of the ways in which your estate could be reduced for IHT purposes, then please get in touch.
