Ask A Question
Rise in inheritance tax receipts
14.12.12
Figures released by HMRC have revealed that the amount the taxman took in inheritance tax rose seven percent on last year's figure. In 2010/11, the amount taken was £2.72bn, compared with £2.91bn in 2011/12.
The overall number of people paying inheritance tax (IHT) rose by 3,000, increasing from 17,000 to 20,000.
IHT comes into effect on anything inherited by one person over the value of £325,000, which is the 'nil-rate band'. However, this is doubled for married couples. The threshold is not due to increase until 2015/16, when it will rise by £4,000 to £329,000 according to Chancellor George Osborne.
Copyright 2024, Consort Consultancy Services. All Rights Reserved. Consort Consultancy Services Limited, Viking House, St Paul’s Square, Ramsey, UK, IM8 1GB. Tel: 03300 882 432
Sitemap | Privacy Policy | Cookie Policy | Contractor Terms and Conditions | Agency Opt-Out