IHT
28% of HNW Brits have no measures in place to address IHT
Many more people will be impacted by inheritance tax in the future
‘Home loan’ IHT avoidance scheme escapes double tax charge
But scheme did fail to save any inheritance tax
17% rise in number of families paying IHT
Average inheritance tax bill fell 1% to £214,000 in 2020/21 financial year
Inheritance tax receipts reached £2bn between April and June
A £200m increase from last year
Over 5,000 families reclaimed overpaid inheritance tax last year
With 1,000 families already reclaiming in 2023/24