Closed petition Create a new inheritance tax allowance for gifts towards a child's first home

Closed on 17 August 2022

The Government should create a new £100,000 inheritance tax allowance for gifts to a child to purchase their first home, to make it easier to support children to get on the housing ladder.

Many children rely on support from their parents to buy their first home, but if their parents die within seven years of making a gift their children could be liable for a massive tax bill, on top of their normal costs of living.

Creating a new inheritance tax allowance for gifts of up to £100,000 to children to help them purchase their first home could make it easier for people to get on the housing ladder, without fearing an inheritance tax bill.