IHT receipts reach £4.6bn ahead of Autumn Statement announcement
As people eagerly wait to hear what is in store for the tax
HMRC
-
-
31% rise in offshore-related nudge letters sent by HMRC
It is ‘clearly stepping up activity targeting taxpayers with undeclared income or gains’
-
What advisers need to know about the statutory residence test
A recent HMRC case has shown the UK taxman will ‘instigate intensive enquiries where exceptional circumstances are claimed’
-
IHT receipts reach £3.2bn
A £300m increase compared to the same period last year
-
UK tax tribunal delivers outcome on domicile case
Appeal results in reduction in taxes of around £100,000
-
HMRC paid over £500,000 to whistleblowers last year
Up 75% from five years ago
-
‘Home loan’ IHT avoidance scheme escapes double tax charge
But scheme did fail to save any inheritance tax
-
Tax reliefs ‘have been abused’, say UK MPs
As treasury committee welcomes a ‘comprehensive and systematic review’ of the regime
-
17% rise in number of families paying IHT
Average inheritance tax bill fell 1% to £214,000 in 2020/21 financial year
-
Inheritance tax receipts reached £2bn between April and June
A £200m increase from last year
-
Pension tax overpayments hit £56m in Q2 2023
This is up almost £8m compared to the first quarter of the year
-
Tax paid by non-doms rises 8% in 12 months
With an average individual paying £123,000 in the past year