Inheritance Tax Interest on Late Payments Doubles this Year!
Interest rates on late payment of inheritance tax will rise to 6% from 6 January 2023. The equivalent figure exactly a year ago was 2.75%. This rise may encourage earlier payments on account where the exact liability is under…
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The Future of Inheritance Tax: Part II
At a basic level, exposed families should consider a professionally drafted Will as essential. Not only to ensure that material wealth passes as intended but also to ensure that the residential and transferrable residential nil rate bands are not inadvertently…
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The Future of Inheritance Tax: Part I
Figures from the Office for Budget Responsibility show that the Treasury should anticipate just over 43 billion of inheritance tax over six years. The annual take will rise from £6.3 billion in the 2021/22 tax year to a record £8.3…
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