Financial Times FT.com

Thousands affected by IHT changes

By Lucy Warwick-Ching

Published: March 20 2004 04:00 | Last updated: March 20 2004 04:00

Gordon Brown's Budget move to stop people avoiding inheritance tax by giving away assets while continuing to enjoy the benefits will affect tens of thousands of individuals.

From April 6, people who dispose of assets such as houses, paintings or boats while retaining the ability to use them will be charged income tax on the retained benefit if they do not pay rent.

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