IHT receipts up 11.2% to £473m in April

In its latest Tax and NIC Receipts update, HM Revenue & Customs (HMRC) revealed a steep increase of 11.2 per cent in the amount of inheritance tax (IHT) taken from people’s estates in April, compared to April 2018.

The most recent data highlighted that £473m was taken last month as the surge in receipts in March appears to have continued into the current tax year, with NFU Mutual chartered financial planner Sean McCann noting that last year’s “record haul of £5.4bn already looks like it could be surpassed”.

McCann said: “While some of the increase will have been due to families rushing through the paperwork to beat the threatened probate fee hike, this has been more than offset by the fall in both house prices and share values over the past twelve months.

“HMRC is more willing to challenge valuations and investigate claims for reliefs and many families are paying the price.”

    Share Story:

Recent Stories


Deep Neural Networks for FX Prediction
Adam Cadle speaks to Richard Turner Head of Research and Mike Emambakhsh, Ph.D. Senior Research Scientist at Mesirow Currency Management about their work with Machine Learning, specifically Deep neural networks for FX prediction.

FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.