Inheritance tax (IHT) receipts for April to August this year were £2.7bn - £0.7bn higher than the same period a year earlier.
Official figures from HM Revenue & Customs (HMRC), released today (21 September) revealed the increase and follow Chancellor Rishi Sunak's move to freeze the nil rate band in last year's Spring Budget. Kingswood wealth planner Paul Archer said: "The main reasons for the rise in IHT receipts are threefold. First, the nil rate band of £325,000 - the asset amount an individual has free before they are charged IHT at 40% - has not risen since 2009. "Second, estate values have risen in the last year mainly due to strong investment returns and property value rises. "Third, the majority o...
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