IHT receipts fall for first time in 10 years

The taxman brought in £5.2bn through IHT in 2019-20 a 4% (£223m) decrease on 2018-19. The government department said the drop was likely because of the introduction of the Residence Nil Rate Band in April 2017, which gave married couples and civil partnerships a maximum joint estate of £1m before IHT comes into effect. The introduction of the rule meant the total number of UK deaths that resulted in an IHT charge also fell in 2017-18 for the first time since 2009-10. LCP partner Steve Webb said the surge in house prices would typically have led to a substantial increase in IHT reve...