IHT

The Conservatives will pledge to abolish inheritance tax in “one big throw of the tax dice” to try and save themselves from electoral wipeout, George Osborne has said. (Source The Telegraph)

Britons are warned of the most “common mistakes” seen when passing on wealth which can leave people paying thousands of pounds more to HMRC.

Following the latest inheritance tax receipts data, an expert has shared costly mistakes they have see their clients make when estate planning.

Interview: Chancellor vows tax breaks for middle classes as he declares: ‘We are the underdogs in this election’

HM Revenue and Customs’ monthly tax bulletin was released this morning

Half of high-net-worth individuals plan to pass on properties to their children, leaving them exposed to both inheritance and capital gains tax.

Pensioners are slamming the “most unfair tax in Britain” as HM Revenue and Customs (HMRC) rakes in billions from an unpopular levy.
A new survey has found a majority of high-earning Britons are in favour of cutting the rate of inheritance tax (IHT).

Inheritance tax receipts are on a trajectory to “break all previous records” as they continue to rise year-on-year, according to recent data from HM Revenue and Customs.

In its monthly bulletin for tax receipts and National Insurance contributions, HMRC revealed inheritance tax receipts for April to December 2023 reached £5.7bn.