The UK government’s inheritance tax intake has increased by a staggering £1bn over the last year, according to new figures from HM Revenue and Customs (HMRC). The rise in IHT receipts to £7.1bn has been attributed to soaring property prices and frozen exemption thresholds, with more and more families expected to be caught by the IHT net.
Experts predict that the Treasury will collect £45bn in IHT receipts between 2022 and 2028, up from a previous estimate of £42.1bn – it’s the gift that keeps on giving for the Treasury! All the more important for families to take action now and consider their IHT planning options.
Speak to our team
We work closely with clients to formulate IHT planning strategies, including bespoke solutions to fit individual circumstances, to protect family wealth.
To find out more about our IHT planning, please contact a member of our Private Client Services’ team below.
Our experienced and approachable team are on-hand to assist you, please get in touch below: