TAX
There are 498 articles for the TAX category
More than two million people aged 65 and over are set to pay tax on their savings income in the 2026/27 financial year, Paragon Bank has found
Posted: 10/08/2026
Estates worth more than £10m appear to have accounted for the vast majority of the latest £330m increase in inheritance tax (IHT) liabilities, indicating the growing concentration of the tax burden among the wealthiest estates, according to analysis by Irwin Mitchell
Posted: 10/08/2026
High net worth individuals (HNWI) with significant pension pots could face combined income and inheritance tax (IHT) exposure of up to 67% once unused pensions are brought within the scope of IHT, according to Claritas Tax
Posted: 07/08/2026
Inheritance tax (IHT) and estate planning clients are getting younger as support demand increases, but advisers are concerned that clients are still engaging with the issue too late, Downing has stated
Posted: 30/07/2026
HMRC recovered more than £1.36bn in unpaid inheritance tax from investigations over the past five years, figures obtained by NFU Mutual have revealed
Posted: 27/07/2026
Retirees who fully withdrew pension pots worth £100,000 or more paid at least £87.2m in income tax over six months, up more than 20% year-on-year, according to Standard Life analysis of Financial Conduct Authority (FCA) data
Posted: 27/07/2026
HMRC has agreed more than £8.3m in tax settlements with 502 crypto investors over the past two years, as the government body steps up scrutiny under new OECD rules, according to data obtained by compliance provider Identomat
Posted: 24/07/2026
An additional one million people are forecast to pay income tax in 2026-27 compared with 2025-26 as frozen tax thresholds continue to increase the tax burden, according to research from the TaxPayers' Alliance (TPA).
The group's calculations showed that an extra 500,000 people will pay the basic rate, 410,000 more the higher rate and 70,000 more the additional rate, while the number of over 65s in pension paying income tax is expected to rise by 630,000 to 10.2 million
Posted: 23/07/2026
Income tax and National Insurance contribution (NIC) receipts increased by £11.4bn in the first quarter of the 2026/27 tax year, boosted by the growing impact of frozen tax thresholds on workers' tax bills, HMRC data showed
Posted: 21/07/2026
Inheritance tax (IHT) receipts have continued to rise, totalling a record £2.3bn between April and June, HMRC has revealed.
Posted: 21/07/2026
The majority (94%) of financial advisers (IFAs) believe that parents aged-55 and over with assets totalling £650,000 or more could benefit from spending more strategically in order to reduce potential inheritance tax (IHT) bills, Titan Wealth has found
Posted: 20/07/2026
Incoming Prime Minister Andy Burnham needs to kill speculation of a wealth tax immediately, the CEO of the independent financial advisory organisation deVere has warned.
The warning came after Burnham declined to rule out asking the UK's wealthiest to contribute "a little more" in a recent interview
Posted: 17/07/2026
Lowering the proposed threshold for Labour's planned council tax surcharge on higher-value homes from £2m to £1.5m could bring significantly more homeowners into scope, Saltus has warned
Posted: 08/07/2026
Receipts from inheritance tax (IHT) and capital gains tax (CGT) will see a steep rise over the next 50 years, as will state pension spend, as the UK population ages and wealth is transferred between generations, according to the Office for Budget Responsibility (OBR).
In its latest Fiscal Risks and Sustainability Report, the OBR projected IHT and CGT receipts will increase from 1.4% of GDP in 2030-31 to 2.2% by 2075-76 under its baseline scenario, driven by the proportion of people aged over 80 rising from 5% in 2025 to 12% in 2075
Posted: 08/07/2026
Almost a third (32%) of people do not know how upcoming changes to pensions and inheritance tax (IHT) will affect them, Hargreaves Lansdown has revealed
Posted: 29/06/2026
HMRC collected £153.7bn in tax and National Insurance contributions (NICs) between April and May 2026, up £9.8bn year-on-year, driven largely by stronger income tax and NIC receipts
Posted: 19/06/2026
Inheritance tax (IHT) receipts totalled £730m in May, up from £701m recorded in the same period last year, HMRC has revealed
Posted: 19/06/2026
Chancellor Rachel Reeves has launched a consultation into easing the tax burden faced by wealthy US investors looking to relocate to the UK
Posted: 11/06/2026
The number of individuals who have more than a £5,000 tax liability on savings income has almost tripled from 52,700 in the 2022/23 financial year to 137,000 in the 2025/26 financial year, Paragon Bank has found
Posted: 10/06/2026
Late estate planning could cost affluent families in the UK £12.3bn in ‘preventable’ inheritance tax (IHT) as pensions fall into scope of the tax, according to Octopus Investments
Posted: 08/06/2026
Almost three quarters (72%) of UK adults are not aware that money regularly gifted from spare or excess income is immediately exempt from inheritance tax (IHT), Canada Life has revealed
Posted: 03/06/2026
Frozen income tax thresholds introduced in 2021/22 have seen seven million people dragged into the income tax net, according to analysis published by AJ Bell
Posted: 29/05/2026
Income tax and National Insurance contributions (NICs) paid through wages reached a record high of £52.5bn in April, marking a £4.7bn year-on-year increase, HMRC has revealed
Posted: 22/05/2026
Inheritance tax (IHT) receipts have fallen by £65m year-on-year in April to £700m, HMRC has revealed.
The first results of the new financial year follow a record-breaking year, when £8.5bn was collected in the 2025/26 financial year
Posted: 22/05/2026
Former Health Secretary, Wes Streeting, has pledged to align capital gains tax (CGT) with income tax as part of his campaign to become Labour leader
Posted: 21/05/2026
Over two in five (43%) of UK adults aren’t confident the six-month deadline for paying inheritance tax (IHT) on unused pension funds will be long enough, new research by Standard Life has shown
Posted: 12/05/2026
More than a quarter (28%) of affluent savers have taken steps to reduce a future inheritance tax (IHT), Paragon Bank research has revealed
Posted: 08/05/2026
Inheritance tax (IHT) receipts totalled £8.5bn in the 2025/26 financial year, marking a fifth consecutive annual record, HMRC has revealed
Posted: 23/04/2026
Almost three in five (59%) UK adults admit that they find inheritance tax (IHT) rules confusing, Canada Life has revealed
Posted: 22/04/2026
The Treasury has responded to the House of Lords’ report on bringing unused pensions into the scope of inheritance tax (IHT), accepting some recommendations while dismissing others, including extending the initial payment deadline and introducing a “safe harbour”
Posted: 01/04/2026
Inheritance tax (IHT) receipts totalled £7.7bn in the 11 months to February, increasing by £132m compared to the same time last year, HMRC has revealed
Posted: 20/03/2026
Rising inheritance tax (IHT) reforms are resulting in high-net-worth families increasingly turning to "gifting with control" strategies as they reassess how wealth is passed between generations, Utmost has found
Posted: 16/03/2026
Financial advice firms are overhauling their planning approaches following continued reductions to capital gains tax (CGT) thresholds over the past three years, analysis from Financial Software Limited (FSL) has shown
Posted: 12/03/2026
Over half (53%) of UK consumers who have engaged with financial advice in the last three years are more worried about tax now compared to a year ago, Wealthtime has found
Posted: 10/03/2026
Inheritance tax (IHT) receipts totalled £7.1bn between April last year and January, with the latest figure signalling another record haul, HMRC has revealed
Posted: 20/02/2026
The average stamp duty charge paid by a first-time buyer relief claimant was £4,073 among those who had liable transactions in 2024/25, new Freedom of Information (FOI) data has shown
Posted: 12/02/2026
The new rules around inheritance tax (IHT) risk “dry” tax bills and future disputes for farmers and private business owners, Irwin Mitchell has warned
Posted: 04/02/2026
The House of Lords (HoL) Economic Affairs Finance Bill Sub-Committee has urged the Government to make changes to its proposals bringing pensions into the scope of inheritance tax (IHT), particularly in relation to personal representatives (PR)
Posted: 28/01/2026
ISAs are expected to save UK savers an estimated £9.65bn in income tax and capital gains tax in the 2025/26 financial year, Hargreaves Lansdown (HL) has revealed
Posted: 22/01/2026
Inheritance tax (IHT) receipts increased by £232m year-on-year between April and December to total £6.6bn, HMRC has revealed
Posted: 22/01/2026
Property wealth accounts for 47% of the value of estates paying inheritance tax (IHT) in London, on average, according to an HMRC Freedom of Information (FOI) request from Just Group
Posted: 16/01/2026
The use of trusts is on the rise in the UK as their role in estate and succession planning continues to grow in importance, according to Utmost Wealth Solutions
Posted: 14/01/2026
Inheritance tax (IHT) receipts totalled £5.8bn in the eight months to November, a year-on-year increase of £84m, HMRC has revealed
Posted: 19/12/2025
Adviser demand for flexible inheritance tax (IHT) solutions has increased amid concerns that pension reforms, client inertia, and policy uncertainty are leaving families exposed to potential IHT liabilities, according to Foresight Group
Posted: 05/12/2025
Incorporation is becoming an increasingly important strategy for landlords adapting to a changing tax and regulatory landscape, new research from Pegasus Insight has indicated
Posted: 02/12/2025
Chancellor Rachel Reeves has announced increases to income tax rates on property, savings, and dividends in today’s Budget
Posted: 26/11/2025
Inheritance tax (IHT) receipts totalled £5.2bn in the seven months to October, new HMRC data has revealed
Posted: 21/11/2025
Inheritance tax (IHT) has been labelled as the most unfair tax by Brits, new research from Canada Life has revealed
Posted: 19/11/2025
Around three in five (58%) independent financial advisers (IFAs) are reporting that their clients have made withdrawals from pension lump sums due to speculation about pension tax relief ahead of the Budget
Posted: 17/11/2025
Financial advisers lack confidence in the economic policy agenda in the UK, with clients reporting concerns around tax and retirement planning, analysis from Unbiased Pro has revealed
Posted: 13/11/2025
Uncertainty around future tax changes is taking a toll on financial confidence among consumers, a study from Quilter has indicated
Posted: 07/11/2025
Clients planning for inheritance tax (IHT) are increasingly turning to business relief (BR) solutions ahead of changes that will come into effect in April, research by Downing has revealed
Posted: 04/11/2025
The Chancellor has stated that she will make “necessary choices” in her upcoming Budget and refused to say she would keep to Labour’s manifesto pledge on tax rises
Posted: 04/11/2025
More than a third (36%) of high net worth individuals (HNWI) believe that the Government will raise inheritance tax (IHT) again at the Autumn Budget, research from Saltus has found
Posted: 22/10/2025
Inheritance tax (IHT) receipts reached £4.39bn in the first half of the current financial year, HMRC has reported
Posted: 21/10/2025
Twenty-three per cent of people are aiming to give money away as part of an effort to manage their inheritance tax (IHT) bills, new research by Hargreaves Lansdown has indicated
Posted: 06/10/2025
Advisers are experiencing a surge in enquiries about inheritance tax (IHT) ahead of the Budget, according to investment manager Downing, as demand for support on estate planning continues to expand
Posted: 02/10/2025
Wealthy individuals are increasingly seeking advice on inheritance tax (IHT) and estate planning amid speculation around tax changes ahead of the Autumn Budget
Posted: 24/09/2025
The Government’s draft inheritance tax (IHT) reforms have been labelled “unworkable” by trade association, PIMFA.
The body representing financial advisers and wealth managers across the UK has warned that the plans also risk creating serious problems for bereaved families
Posted: 24/09/2025
Inheritance tax (IHT) receipts reached £3.7bn in the five months to August, increasing by 5% year-on-year, HMRC has revealed.
The latest figure marks a £190m increase on the same period last year, after £8.2bn was collected in IHT receipts by HMRC across the 2024/25 tax year
Posted: 19/09/2025
Inheritance tax (IHT) receipts totalled £3.06bn in the four months to July, increasing by 8% year-on-year, HMRC has revealed
Posted: 21/08/2025
Financial estates in London and the South East paid almost three times more inheritance tax (IHT) than Scotland, Wales and Northern Ireland combined across the same tax year, new regional HMRC has data shown
Posted: 19/08/2025
Inheritance tax (IHT) receipts on unused pension funds are set to "create confusion and increase the risk of gifting mistakes" for the Bank of Mum and Dad, Key Advice has warned
Posted: 19/08/2025
Accountants and financial advisers are increasingly seeing clients struggling to pay tax bills, new research from Premium Credit has indicated
Posted: 19/08/2025
A working age single homeowner with an average priced home and a moderate pension is set to receive an inheritance tax (IHT) bill of £82,158 from 2027 following changes announced in the Budget, Quilter has revealed
Posted: 18/08/2025
The Treasury is reportedly considering further changes to inheritance tax (IHT), which would potentially see a lifetime cap being imposed on the value of gifts an individual can make before death without incurring an IHT charge
Posted: 14/08/2025
More than two thirds (67%) of people are unaware of how bonds can be used for inheritance planning and tax mitigation, despite a growing appetite for intergenerational wealth transfer, LV= has found
Posted: 13/08/2025
The number of individuals paying dividend tax is expected to reach a record 3.67 million in the 2024/25 tax year, according to new analysis by Quilter
Posted: 11/08/2025
Later life lending platform Air has urged advisers and the regulator to focus on the Consumer Duty challenge posed by the inclusion of unused pension funds in estates
Posted: 08/08/2025
Wealthy parents are increasingly gifting more of their funds to charity amid a rising inheritance tax (IHT) burden, a new study by Rathbones has indicated
Posted: 06/08/2025
The number of estates subjected to inheritance tax (IHT) has risen by 13% in the space of a year, new figures from HMRC have shown
Posted: 31/07/2025
The inclusion of unused pension assets in inheritance tax (IHT) calculations will have a significant positive impact on the later life lending market, according to Key Advice
Posted: 29/07/2025
Capital gains tax (CGT) liabilities in the UK fell by 18% year-on-year to £12.1bn in 2023/24, despite the number of people paying CGT increasing, the latest figures from HMRC have revealed
Posted: 25/07/2025
Nearly one in 10 (9%) estates liable for inheritance tax (IHT) paid more than £500,000 in the latest available year of data, with the number expected to continue rising as pensions come into the scope of IHT
Posted: 23/07/2025
Inheritance tax (IHT) receipts totalled £2.2bn between April and June 2025, which is a £100m increase year-on-year, HMRC has revealed
Posted: 22/07/2025
Seventy-five per cent of British adults would support the introduction of a wealth tax of 2% on wealth over £10m, according to a survey from YouGov
Posted: 09/07/2025
Families in the UK have made more than 18,000 reclaims for overpaid inheritance tax (IHT) in the last three years, NFU Mutual has revealed
Posted: 07/07/2025
Legacy wealth planning is becoming increasingly significant and trusts are playing a larger role in financial planning as pensions are set to come into scope of inheritance tax (IHT) from April 2027, according to Quilter
Posted: 26/06/2025
Inheritance tax (IHT) receipts totalled £1.5bn between April and May, increasing by 7% year-on-year in the first two months of the tax year, HMRC has revealed
Posted: 20/06/2025
HMRC has charged £513m in interest on the late payment of income tax since 2020, a new Freedom of Information (FOI) request submitted by NFU Mutual has shown
Posted: 04/06/2025
The number of estates in the UK subject to inheritance tax (IHT) will exceed 37,000 by 2027, according to analysis by Irwin Mitchell
Posted: 02/06/2025
Inheritance tax (IHT) receipts reached the second highest monthly total ever recorded, totalling £780m in April, HMRC data has revealed
Posted: 22/05/2025
Over two thirds of platforms are not providing advisers with holistic capital gains tax (CGT) planning support, despite it being an "issue they’re grappling with daily", FSL has found
Posted: 20/05/2025
Seventy-one percent of people have admitted to not knowing how inheritance tax (IHT) works or what their beneficiaries may have to pay, Schroders Personal Wealth (SPW) has found
Posted: 19/5/2025
Advice professionals are switching strategies in preparation for the changes announced in the Autumn Budget, turning to pension gifting, trusts, annuities, and onshore bonds, according to a report from The Lang Cat
Posted: 16/05/2025
Over three in five (63%) advisers have reported encountering family disputes while assisting with inheritance tax (IHT) planning, according to new research from Downing
Posted: 08/05/2025
Less than 2% of estates paying inheritance tax (IHT) have used the gifts out of surplus income gifting rule in the last three years, new analysis from Quilter has shown
Posted: 06/02/2025
Inheritance tax (IHT) receipts increased by £800m in the 2024/25 financial year, with a record £8.2bn collected between April 2024 and March 2025, HMRC has revealed
Posted: 23/04/2025
Almost 18 million Brits are set to be dragged into the basic rate of income tax by 2027/28 as a result of frozen tax thresholds, Quilter has revealed
Posted: 15/04/2025
Advisers are increasingly looking for support around inheritance tax (IHT) planning amid growing demand for advice, a new study by investment manager Downing has shown
Posted: 10/04/2025
Advisers have reported a surge in demand for inheritance tax (IHT) planning advice, with new clients accounting for most of the enquiries, research by Downing has found
Posted: 27/03/2025
The amount of inheritance tax (IHT) collected by HMRC has reached £7.6bn in the 11 months to February, surpassing the annual record with a month to spare.
HMRC took the previous annual record last year, when IHT receipts totalled £7.5bn across the full 2023/24 financial year
Posted: 21/03/2025
The number of additional rate taxpayers increased by 9.5% between 2021/22 and 2022/23, HM Revenue and Customs (HMRC) has revealed
Posted: 12/03/2025
Eight in ten (83%) high net worth individuals (HNWIs) are expecting taxes to rise further in the next 12 months, a new study by Saltus has indicated
Posted: 12/03/2025
Inheritance tax (IHT) receipts reached £7bn in the period between April last year and January, a £700m year-on-year increase, HMRC has revealed
Posted: 21/02/2025
The upcoming stamp duty changes could raise an additional £1.1bn a year for the Government, according to new estimates from Zoopla
Posted: 19/02/2025
More than half (54%) of UK adults are planning to adjust their retirement or estate planning in response to the Government’s inheritance tax (IHT) changes on pensions
Posted: 17/02/2025
Independent financial advisers (IFAs) are increasingly concerned about tax changes, according to Opinium’s latest IFA Barometer
Posted: 12/02/2025
A total of 152,700 estates will come into scope of inheritance tax (IHT) or face additional IHT liability if measures to include pensions in IHT calculations, as was announced in the Autumn Budget, come into effect, according to a freedom of information (FOI) request by Interactive Investor
Posted: 05/02/2025
An estimated 1.1 million self-assessment tax returns were not sent to HMRC by the 31 January deadline, equating to 9.5% of expected returns
Posted: 03/02/2025
Inheritance tax (IHT) receipts collected by HM Revenue and Customs (HMRC) reached £6.3bn between April and December 2024, an increase of £600m on the same period in 2023
Posted: 22/01/2025
Over four in five (83%) AJ Bell customers have stated that they are either very or somewhat concerned about tax increases from the new Labour Government in 2025
Posted: 02/01/2025
The amount of inheritance tax (IHT) receipts collected by HM Revenue and Customs reached £5.7bn between April and November, an 11% increase on the same period in 2023/24
Posted: 20/12/2024
Inheritance tax (IHT) receipts collected in the current financial year have reached £5bn, with HM Revenue and Customs (HMRC) set to break collection records for the fourth consecutive year
Posted: 21/11/2024
Financial services technology provider, EV, has added a new inheritance tax (IHT) functionality to its end-to-end financial planning solution, EVPro
Posted: 14/11/2024
Wealth professionals are anticipating a surge in demand for financial advisers as almost one in 10 deaths are set to trigger an inheritance tax (IHT) charge by the end of the decade
Posted: 13/11/2024
The freeze on inheritance tax (IHT) thresholds could cost families £234,000 over the total duration of the potential two-decade long nil rate band (NRB) freeze, up to the 2030 end date, AJ Bell has revealed
Posted: 12/11/2024
Over two in five adults (44%) have not written a will, a new study by Canada Life has revealed
Posted: 08/11/2024
The availability of stamp duty-free housing stock is set to drop by 20% following the changes to stamp duty rules in the Autumn Budget last week, eXp UK has revealed
Posted: 04/11/2024
The Chancellor has announced that major changes will be made to the capital gains tax (CGT) regime as part of the Budget, which some analysts have described as "unwelcome"
Posted: 30/10/2024
The Chancellor has confirmed in her Budget that the freeze to the inheritance tax (IHT) threshold will be extended by a further two years to 2030
Posted: 30/10/2024
The Chancellor has announced that the Government plans to raise £40bn from a raft of newly confirmed tax changes
Posted: 30/10/2024
Over three-quarters (77%) of buy-to-let (BTL) landlords have said they are concerned that potential tax increases in the Budget, such as changes to capital gains tax, could adversely affect their investments, Butterfield Mortgages has revealed
Posted: 29/10/2024
Over half (56%) of UK adults are worried that any increases to their personal tax bill will hit their standard of living in the year ahead, Rathbones has found
Posted: 22/10/2024
Inheritance tax (IHT) receipts collected in the six months to September increased by 10% (£396m) year-on-year, taking the amount raised to £736m, HM Revenue and Customs has revealed.
Posted: 22/10/2024
Advisers are seeing a surge in queries around pensions taxation and wealth protection ahead of the Budget on 30 October, according to new research by AJ Bell
Posted: 21/10/2024
Inheritance tax (IHT) receipts collected between April and August 2024 increased by £300m year-on-year, with the total collected for the year reaching £3.5bn, HMRC has revealed
Posted: 20/09/2024
There has been a rise in the number of families receiving inheritance tax (IHT) bills after death on gifts made during the deceased’s lifetime, leading to Evelyn Partners issuing a warning to those who may be set to receive financial gifts from relatives in the future
Posted: 27/08/2024
Inheritance tax (IHT) receipts have increased by £200m year-on-year in July, taking the amount collected in IHT to £2.8bn in the current financial year
Posted: 21/08/2024
The number of people expected to pay dividend tax in the 2024/25 tax year has almost doubled since 2021/22, a Freedom of Information request from AJ Bell has indicated
Posted: 20/08/2024
Nearly 7,000 estates have paid inheritance tax (IHT) including life insurance policies that could have been excluded from the tax if put into trust
Posted: 13/08/2024
The total capital gains tax (CGT) liability was £14.4bn for 369,000 taxpayers in the 2022/23 tax year, realised on £80.6bn of gains, new figures published by HMRC have revealed
Posted: 01/08/2024
Just under 1.6 million taxpayers were hit with fines or penalties for their self-assessment tax return in the 2021/22 financial year, a new freedom of information (FOI) request submitted by AJ Bell has revealed
Posted: 31/07/2024
Inheritance tax (IHT) receipts have reached £2.1bn between April and June 2024, an increase of £83m on the same period last year
Posted: 19/7/2024
Over half (56%) of people believe that public spending should be increased, even if it means tax rises for households like their own, abrdn Financial Fairness Trust has found
Posted: 02/07/2024
Savers are set to pay £10.4bn in savings interest in the current financial year, new figures from HM Revenue and Customs (HMRC) have shown.
This is a rise of over £9bn compared to the figure reported back in the 2020/21 financial year
Posted: 27/06/2024
Inheritance tax (IHT) collected in May reached a total of £701m, an increase of £92m year-on-year, HM Revenue and Customs (HMRC) has revealed
Posted: 21/06/2024
HMRC has recovered an estimated £1.39bn in unpaid inheritance tax (IHT) during the past five years, according to new figures obtained by NFU Mutual
Posted: 13/06/2024
The Treasury’s intake from inheritance tax (IHT) totalled over £700m in April, a figure £85m higher than the same month last year
Posted: 22/05/2024
Two in five (41%) savers think they don’t earn enough in interest to pay tax on their savings accounts, meaning that they could be "sleepwalking" their way into a surprise tax bill, Shawbrook has revealed
Posted: 17/5/2024
The amount of inheritance tax (IHT) collected in the 2023/24 financial year hit a record £7.5bn, with analysts expecting receipts to reach almost £10bn by the end of the decade.
HM Revenue and Customs (HMRC) has revealed that IHT receipts increased by £400m year-on-year, after £7.1bn was collected in 2022/23
Posted: 23/4/2024
Adults in the UK have paid £5.8bn in overpaid tax to HM Revenue and Customs (HMRC) as a result of being on the wrong tax code, Canada Life has found
Posted: 22/4/2024
The amount of inheritance tax (IHT) collected in February increased by £400m year-on-year, with £564m collected over the course of the month
Posted: 21/03/2024
The rate of capital gains tax (CGT) payable on residential property gains is to be cut from 28% to 24% from 6 April, Chancellor Jeremy Hunt has announced
Posted: 06/03/2024
Almost three quarters (71%) of advisers have said that they are hoping for an increase in the personal allowance as part of the Spring Budget, Royal London has found
Posted: 4/3/2024
UK investors believe cuts to income and corporation tax rather than inheritance tax (IHT) would have a greater boost for the wider economy.
This is a despite a survey from Wealth Club also revealing that IHT remains the tax that investors dislike the most
Posted: 28/02/2024
The Government’s intake from inheritance tax (IHT) has climbed to £6.3bn in the 2023/24 tax year, new HMRC figures have shown
Posted: 21/02/2024
Suros Capital has reported a rise in the number of applications for urgent funding to pay tax bills before the 31 January deadline
Posted: 26/01/2024
Nearly two million people face debt as soaring tax bills mean they are turning to overdrafts to meet HM Revenue and Customs’ (HMRC) demands as the 31 January deadline looms, Royal London has found
Posted: 24/01/2024
Inheritance tax (IHT) receipts show that £5.7bn was collected in the first three quarters of the 2023/24 financial year, an increase of 8% year-on-year, HM Revenue and Customs (HMRC) has found
Posted: 23/01/2024
Inheritance tax receipts have reached a total of £5.2bn between April and November 2023, a £400m increase on the same period last year, HM Revenue and Customs has found
Posted: 21/12/2023
Almost a quarter (24.1%) of all income tax and capital gains tax (CGT) is paid by just 100,000 people, a Freedom of Information (FOI) request made by Wealth Club has revealed
Posted: 04/12/2023
The Office for Budget Responsibility (OBR) has increased its estimates for inheritance tax (IHT) for the next six years following the autumn statement
Posted: 22/11/2023
HMRC took in £4.6bn worth of inheritance tax (IHT) receipts in the period between April to the end of October this year, new figures have shown
Posted: 21/11/2023
Inheritance tax (IHT) reform could prevent an estimated 12,500 families from paying the tax each year, new analysis from Quilter has indicated
Posted: 13/11/2023
The Government has now collected £3.9bn through inheritance tax (IHT) in the financial year so far, new figures published by HMRC have revealed.
Covering the period from April up to September this year, IHT receipts are around £400m higher than they were over the same period last year
Posted: 20/10/2023
Six in 10 (59%) retirees said they do not know what the inheritance tax (IHT) threshold for the value of an estate is, Just Group has found
Posted: 19/10/2023
HM Revenue and Customs (HMRC) has urged self-assessment customers to be on the lookout for scam texts, emails and phone calls from fraudsters in the run up to the tax return deadline
Posted: 17/10/2023
Three in 10 (30%) ultra-high net worth individuals (UHNWIs) have put plans to pass money down to younger generations on hold, research from Mazars has found
Posted: 03/10/2023
The wealthiest 1% of the UK would receive half the benefit if the Government was to scrap inheritance tax (IHT), with an average tax cut of over £1m, new analysis has indicated
Posted: 27/09/2023
Just one in 10 (11%) independent financial advisers (IFAs) have stated that they support the Government’s potential tax rule changes surrounding pension death benefits, Standard Life has found
Posted: 26/09/2023
The average inheritance tax (IHT) bill could reach £233,000 in the 2023/24 financial year, new research from Wealth Club has indicated
Posted: 25/09/2023
Inheritance tax (IHT) receipts have continued to increase in August, with an extra £300m collected compared to the same period last year
Posted: 21/09/2023
A total of £2.76bn was raised in insurance premium tax (IPT) receipts in the first four months of the latest financial year, which is 27% higher than in the same period last year, OAC has found
Posted: 05/09/2023
Inheritance tax (IHT) has increased by a further £603m in July, and receipts for April to July 2023 currently stand at £2.6bn, an increase of £200m compared to the same period in 2022, HM Revenue and Customs (HMRC) has revealed
Posted: 22/08/2023
Capital gains tax (CGT) receipts hit a record £16.7bn in the 2021/22 tax year, up 15% on the previous tax year
Posted: 03/08/2023
Over a quarter of high-net-worth individuals (HNWIs) do not have measures in place to address inheritance tax (IHT) or increase the tax-free assets that they hope to pass on, new research from Saltus has indicated
Posted: 02/08/2023
The number of estates in the UK paying inheritance tax (IHT) has risen by 17%, new figures released by HMRC have revealed
Posted: 26/07/2023
The first quarter of the 2023/24 financial year saw £2bn collected by the Treasury in inheritance tax (IHT), HM Revenue and Customs (HMRC) has revealed
Posted: 21/07/2023
His Majesty’s Revenue and Customs (HMRC) has reported an increased estimate of £1.1bn in the total level of error and fraud in research and development (R&D) tax reliefs for 2020-21, up 16.7% of its previously published estimate
Posted: 18/07/2023
Eight and a half million people aged 65 and over are income tax payers, which is an increase of around 10% compared with a year earlier, according to figures from HM Revenue & Customs (HMRC)
Posted: 30/06/2023
Widespread confusion around inheritance tax (IHT) means millions of over-55s are at risk of leaving families with a potentially significant tax bill to be paid from the deceased’s estate, new research has shown
Posted: 28/06/2023
The amount of unpaid UK tax has remained at the lowest it has ever been, sitting at 4.8%, HM Revenue and Customs (HMRC) has revealed
Posted: 22/06/2023
The Government has taken £1.2bn in inheritance tax (IHT) in the months of April and May, new HMRC figures have indicated
Posted: 21/06/2023
The Government’s inheritance tax (IHT) intake totalled £600m in April, a figure £100m up on last April’s figure, new data published by HMRC has indicated
Posted: 23/05/2023
More than two in five UK adults (43%) that have checked their tax code have found they are on the wrong one, new research from Canada Life has revealed
Posted: 18/05/2023
The share of adults in the UK paying higher rates of income tax has grown significantly in the last few decades, a new report by the Institute for Fiscal Studies (IFS) has highlighted
Posted: 16/05/2023
The Government has taken £7.1bn in receipts for inheritance tax (IHT) for the 2022/23 tax year, new HMRC figures have confirmed
Posted: 25/04/2023
“Bed and ISA” transactions have increased by 387% since the tax changes announced by the Chancellor last November, analysis by AJ Bell has indicated
Posted: 29/03/2023
The government has now taken £6.4bn in inheritance tax (IHT) since April last year, new HMRC figures have revealed
Posted: 21/03/2023
The Chancellor has created an “unlimited inheritance tax (IHT) shelter” as a result of his move to abolish the pensions lifetime allowance in yesterday’s Budget
Posted: 16/03/2023
The Treasury is forecast to haul £45bn in inheritance tax (IHT) over the next six years, newly published estimates from the Office for Budget Responsibility (OBR) have indicated
Posted: 15/03/2023
The government’s inheritance tax (IHT) intake is now up to £5.9bn for the period since April last year up to the end of January, according to new HMRC figures
Posted: 21/02/2023
The Chartered Institute of Taxation (CIOT) has urged the government to review “unfair” repayment interest rates
Posted: 09/02/2023
The average amount owed to UK taxpayers by HMRC has increased by 6.2%, with the average tax rebate now reaching £1,510, analysis by RIFT Tax Refunds has shown
Posted: 31/01/2023
HMRC has now taken £5.3bn in inheritance tax (IHT) since April last year, new government data has revealed
Posted: 24/01/2023
The gap between tax owed and tax paid to HMRC currently sits at £32.1bn and is expected to widen as the UK struggles to combat the cost of living crisis, analysis by RIFT Tax Refunds has shown
Posted: 10/01/2023
The government has announced that the interest rate it charges on overdue inheritance tax (IHT) will increase to 6% from today
Posted: 06/01/2023
UK families could have passed on £1.43m free of inheritance tax (IHT) had the Conservative government not frozen the tax-free thresholds since coming to power in 2010, new analysis from AJ Bell has suggested
Posted: 03/01/2023
The government has taken £4.8bn in inheritance tax (IHT) for the period between April and November this year, new HMRC figures have shown
Posted: 21/12/2022
A majority 93% of independent financial advisers (IFAs) would cite the speed of inheritance tax (IHT) mitigation as the most important factor when advising on estate planning, new research from Ingenious has indicated
Posted: 06/12/2022
Approximately two million people face being subject to the 60% marginal income tax rate by 2028 following Chancellor Jeremy Hunt’s freeze on tax thresholds
Posted: 23/11/2022
Only 22% of people aged between 55 and 64 know what their inheritance tax (IHT) liability will be on their estate when they die, new research has indicated
Posted: 22/11/2022
The government has taken £4.1bn worth of receipts for inheritance tax (IHT) over the period between April to October this year, new HMRC figures have confirmed
Posted: 22/11/2022
The stamp duty cuts first announced in the mini-Budget will now be in place until 31 March 2025, the Chancellor has confirmed
Posted: 17/11/2022
HMRC has taken £3.5bn in receipts for inheritance tax (IHT) in the period between April and September, new figures have shown
Posted: 21/10/2022