IHT
IHT penalties increase by 34% in a year
HMRC ‘don’t hold back where they suspect inheritance tax has been underpaid’
UK taxman collects £2.6bn from IHT receipts in 3 months
Bereaved families are ‘increasingly filling government coffers’ due to frozen thresholds.
Nearly 50% of Brits haven’t spoken to advisers about inheritance tax
With 60% not knowing how much money they could leave their loved ones before IHT is incurred
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