Inheritance tax receipts reach record high March 21, 2025 Inheritance tax receipts totalled £7.6bn in the last 11 months, a record high and surpassing last year’s full-year total of £7.5bn. Data from HMRC revealed today that the amount paid in tax was an 11.8 per cent increase from the same period last year. “It may only affect a small percentage of estates, but that [...]
Shield your assets from inheritance tax with life insurance February 17, 2025 Inheritance tax entered the headlines last year when the Labour government used its first budget to announce measures designed to close loopholes and raise funds, prompting savers and advisers to reconsider their financial planning. The government’s proposals include plans to impose inheritance tax on unspent pensions from April 2027 and a pledge to reform the [...]
Inheritance tax: Bill for Britain’s ‘most hated tax’ hits record January 22, 2025 HMRC collected £6.3bn in inheritance tax in the last nine months, but with changes to the code announced in Budget, this bill is expected to get bigger.
Majority of people want inheritance tax cut exclusive poll finds January 7, 2025 Research from Freshwater Strategy showed that 54 per cent of voters think the controversial tax should be set at a lower level.
‘Christmas comes early’ as inheritance tax receipts jump on threshold freeze December 20, 2024 The amount of inheritance tax (IHT) brought in by the government ticked up to £600m in November, as frozen thresholds pushed more estates into paying the tax. “Christmas has come early for the government,” said Shaun Moore, tax and financial planning expert at Quilter, with the higher tax receipts allowing the amount the government borrowed [...]
Homeowners face massive inheritance tax hike after Budget hit November 21, 2024 London homeowners are going to be hit with an eye-watering 1,840 per cent increase in inheritance tax (IHT) liability, as a direct result of Rachel Reeves’ Budget changes, it has been calculated. A single homeowner in the capital with an averaged priced home of £525,586, with the same amount in their pension, will have a [...]
Inheritance tax receipts rise as Brits warned to ‘make plans to pass on wealth’ November 21, 2024 Inheritance tax receipts have risen again as experts are warning Brits to better plan for the passing on of wealth, after the Autumn Budget changes. Fresh figures released this morning show inheritance tax receipts for between April and October of this year are £5bn, which is £500m higher than the same period last year. This [...]