The Treasury is on track for another record-breaking year of revenues from inheritance tax (IHT) as receipts for April to September hit £4.4bn, £100m higher than the same period last year.
The increase represents an increase of 2.3 per cent, according to analysis from Evelyn Partners. Evelyn Partners head of estate planning Ian Dyall said with the nil-rate band frozen at £325,000 since 2009 and the residence nil-rate band static at £175,000, "fiscal drag is quietly pulling thousands more families into the IHT net as asset values increase year-by-year". Dyall said the crackdown on agricultural and business relief (APR/BPR) alongside making unused pensions liable for IHT from 202y would "compound the effect". The Office for Budget Responsibility (OBR) forecasts recei...
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