London's Sky-High Prices Thin the Ranks of Room-to-Rent Seekers
The cost of renting a room in the capital has held above £1,000 ($1,350) a month since 2022, when property seekers idled by Covid 19 flooded back into the market as the economy reopened.
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How unspent pension pots could rack up inheritance tax bills
Unspent pension pots could prove problematic for those calculating their potential inheritance tax bill, with new changes taking effect from April 2027. New calculations by Quilter show that a working-age single homeowner in England hoping to pass on an average-priced home (£290,395) and a pension pot of £415,000 would pass on an inheritance tax (IHT) bill of £82,158 from 2027 following changes announced in the government's budget — even if they die before reaching pension age. Until now, unspent pensions were typically passed on tax-free if the saver died before age 75, and especially if they passed away before they could access them. HMRC confirmed that from April 2027, pension savings will count towards a person's estate for IHT purposes regardless of age at death, unless covered by existing exemptions. This means that cohabiting families with young children, who do not benefit from the spousal exemption or a transferable nil-rate band, will be far more exposed, according to Quilter. 'Charging inheritance tax on a pension someone could not access and will never be able to use due to passing away before the minimum pension age is optically terrible for the government," said Jon Greer, head of retirement policy at Quilter. Read more: How to make pension pots tax-efficient "It is even more unjust for cohabiting families who have no spousal relief or ability to transfer tax allowances. A grieving family with young children and an average priced home could face six-figure IHT bills at the most distressing time." In many cohabiting households the property is jointly owned (joint tenants), meaning only half its value is included in the estate. Even then, a typical family in England would still face an IHT bill of £24,079, purely because of the pension inclusion. Where the property is solely owned by the deceased, the bill is more than three times higher. For example, in London, sole ownership of an average-priced home (£565,637) plus a £415,000 pension creates an IHT bill of £192,254 in 2027. If the home is jointly owned, that falls to £129,127 – still a severe hit for a grieving family without the protections available to married couples. Across Wales, Scotland and Northern Ireland, where lower house prices meant there was previously no liability for families with similar pensions, bills in joint-ownership cases will still be an average of £23,891, £21,392 and £20,007 respectively. These liabilities will grow if house prices inflate before the rules take effect, the research in to access your portfolio
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Most affordable commuter hotspots revealed
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