Inheritance Tax Receipts Hit Record £5.2bn
- On April 24, 2019
- By GrowthInvest Admin
Inheritance tax receipts hit a record high of £5.2bn in the last tax year, despite the introduction of a new allowance that couples to pass on a family home worth up to £850, 000 tax free.
HM Revenue & Customs’ latest monthly estimate, released on Tuesday, show a £400m year-on-year increase in the amount of inheritance tax (IHT) collected in 2017-18, an 8 per cent increase on the £4.8bn total for 2016-17.
IHT receipts have been rising steadily for the past eight years as soaring property prices in London and the South East drag more estates into the tax net.
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