Inheritance Tax

HM Revenue & Customs’ receipts of inheritance tax (IHT) leaped to GBP4.7 billion in the 2015–2016 tax year, a 22 per cent increase on the previous year.

According to the report, properties, household savings and securities make up the bulk of most taxpaying estates, although there was also a significant increase in the number of deaths in the final months of 2014–2015.

Periodic IHT charges on relevant discretionary trusts rose to GBP187 million, although transfers to such trusts were fairly static at GBP14 million.

If you would like our free guide on how to reduce IHT then email us facebook@thewillcentre.com or call 01752 607040.

By |2017-01-01T18:40:32+00:00January 1st, 2017|Inheritance Tax|Comments Off on Inheritance Tax
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