Inheritance Tax Surge

 Inheritance Tax receipts surge

The latest official figures from HMRC show total inheritance tax receipts are up by 6% to £11.2bn on the same time last year and are rising faster than at any time since 2010. NFU Mutual said IHT receipts have risen by over 20% in the first four months of the tax year, indicating a more aggressive approach from the taxman. NFU Mutual’s Sean McCann commented: “The extra scrutiny from tax officials means those who haven’t taken professional advice or planned early could be caught out. This could have a catastrophic effect on family wealth. IHT is one of the more complex taxes and there are plenty of traps to fall foul of – as many families appear be finding out.”
The Scotsman, (24/08)