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...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?


Author spotlight

Gary Robinson

Commercial Director, Head of Video at International Investment.