The amount raised from April 2024 to January 2025 is £800million higher than the same 10 months in the previous year.
HMRC raised £7.499billion in the 2023-24 tax year, but they are on track to smash through this figure for the following year. Currently, around 4% of deaths result in an inheritance tax.
Nicholas Hyett, of investment service Wealth Club, said: "Inheritance tax continues to be a meal ticket for HMRC. It may only affect a small percentage, but that number is growing. OBR [Office for Budget Responsibility] estimates suggest nearly 10% of estates will pay death duties by 2030 due to rising house...
HMRC raised £7.499billion in the 2023-24 tax year, but they are on track to smash through this figure for the following year. Currently, around 4% of deaths result in an inheritance tax.
Nicholas Hyett, of investment service Wealth Club, said: "Inheritance tax continues to be a meal ticket for HMRC. It may only affect a small percentage, but that number is growing. OBR [Office for Budget Responsibility] estimates suggest nearly 10% of estates will pay death duties by 2030 due to rising house...
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Daily Express (Digital) - 1 Issue, March 22, 2025