UK hit with record £5.4bn IHT bill

clock • 2 min read

New figures from the UK's tax service HMRC, reveal UK citizens paid £5.4bn in inheritance tax in 2018/19 - a 3% increase on the previous tax year. IHT bills have been rising steadily since 2009/10, mainly as a result of the UK government freezing the nil-rate band at £325,000. And despite moves by the Office for Tax Simplification recently proposed a series of radical IHT simplifications figures continue to rise and in the past 9 years the amount HMRC has raised through IHT charges has more than doubled Tom Selby, pictured above, senior analyst at AJ Bell, said: "With the nil-rate ban...

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Gary Robinson

Commercial Director, Head of Video at International Investment.