Rising IHT receipts 'show little sign of slowing down'

Up to £5.4bn

clock • 1 min read

IHT receipts up 3.1% on previous tax year, increasing by around £160m to £5.4bn

Inheritance tax (IHT) receipts were generally higher in the 2018/19 tax year and saw a 44.4% increase in March from the previous month, according to the latest data from HM Revenue & Customs (HMRC). Overall, IHT receipts ended 2018/19 3.1% up on the previous tax year, increasing by around £160m to £5.4bn. The taxman's data also highlighted that IHT receipts were at their highest level both in terms of annual revenue and as a proportion of GDP. Canada Life wealth management and tax specialist Neil Jones argued a lot of the payments were preventable, explaining: "Death and taxes may ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

Professional Skills: Why clients don't buy insurance for the freebies

Professional Skills: Why clients don't buy insurance for the freebies

Focus on outcomes not add-ons

Ash Borland
clock 01 April 2025 • 2 min read
Gallagher joins amii

Gallagher joins amii

Employee benefits consulting

Jaskeet Briah
clock 31 March 2025 • 1 min read
COVER Summit North 2025: In pictures

COVER Summit North 2025: In pictures

Event gallery

COVER
clock 28 March 2025 • 1 min read