HMRC prepares for a windfall as Britons are at a loss dealing with IHT

clock • 14 min read

When it comes to taxes, not even death stops the taxman from collecting. Once seen as tax targeting the rich, rising house prices have dragged thousands more into the IHT net, leading to a record £5.2bn haul for HMRC in 2017/2018. With inheritance tax, advanced planning could save you up to 40%. If you are not fond about the idea of HMRC receiving a large chunk of your estate when you die, Pedro Gonçalves explains what steps can be taken to prevent this. This March, HMRC reported a staggering 44.4% increase in inheritance tax (IHT) receipts to £5.4bn, compared to the previous month. That's...

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