Ten questions clients may ask about IHT

1. How much actual tax does inheritance tax (IHT) generate? The total IHT receipts for 2010/11 (the last year for which accurate records are available) was approximately £2.7bn. This represents less than 1% of the total tax take from all taxes. So IHT is not a massive revenue earner for the government, but it is a tax that often generates a great deal of emotion from those who realise that their estates will have to pay it when they die. 2. What will IHT be charged on? If the client is a UK domiciled person, IHT will be chargeable on their worldwide estate, which would include prop...