Posted: August 1, 2018
HMRC have published detailed statistics regarding the Inheritance Tax System for recent years. These figures show that;
- 4.2% of UK deaths were liable to IHT – continuing the longer term trend of more estates being brought into the IHT system
- IHT receipts totalled £5.2bn in 2017/18 – an increase of £388m from the previous year.
- The capital value of estates has increased substantially since 2009/10 – with the majority of the increase due to increases in residential property prices
The statistics reflect the general trend that more estates have been pulled into the IHT system due to increases in property values and freezes in the level of the tax free Nil Rate Band.