HMRC nets record £5.3bn in inheritance tax

Blog Default Image

The revenue authority’s inheritance tax take has increased by 13% compared to the £4.7bn collected in 2016-17.

HMRC collected a record £5.3bn in inheritance tax in the year to February 2018, according to a private client law firm.

The inheritance tax threshold freeze at £325,000 has meant that more families are being subject to tax bills on their inheritance following several years of residential property price inflation.

No one wants their children or other dependants to have to pick up hefty inheritance tax bills, so it is important to plan ahead as early as possible how to pass wealth onto children and grandchildren. We can help you with this.

Family and Children Tax Planning