IHT investigations carried out by HM Revenue & Customs (HMRC) brought in £274m tax last year from estates that had underpaid, according to law firm Wilsons.
The figure was a four-year high with the average IHT investigation garnering £48,400 in outstanding tax. The private client firm said the higher yield from IHT investigations was mainly due to the rise of do-it-yourself probates. It said HMRC opened 5,658 investigations into IHT in 2019/20. The average yield from each case was £48,422 - a 22% increase from an average yield of £39,763 three years ago in 2016/17. Clare Moffat: What advisers need to know about the Staveley case The law firm said HMRC had dedicated "huge resources" to investigating high net worth estates. Investigati...
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