IHT receipts show year-on-year rise of £0.7bn

Gill Millen, Managing Director of Bowmore Financial Planning, quoted in IFA Magazine 27th April 2022

“Over the past 13 years, IHT has become a significant income stream for HMRC. What was intended to be a tax only on the truly wealthy has become a general tax on ‘Middle England’ and the next generation.”“13 years ago £325,000 was a reasonable threshold for IHT. That threshold is no longer fit for purpose and the problem is only getting worse as house prices continue to rise.”“The Government should look at increasing the threshold in line with inflation to make sure that normal, middle class families are able to pass on wealth without being taxed unnecessarily.”

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IHT receipts show year-on-year rise of £0.7bn

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