Tax Blog

A Record Year for Inheritance Tax Receipts!

HM Revenue and Customs is on course to collect a record-breaking £8 billion in inheritance tax this year due to fiscal drag and a lack of even the most basic planning amongst deceased taxpayers.    A few facts. HMRC says…
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Latest & Interesting HMRC Statistics on Non-Domicilaries

HMRC’s latest round of tax statistics issued on 6 July shows that many non-domiciled individuals stayed outside of the UK and remitted less taxable income back. In 2022 there has been an increase in the number of non-domiciled taxpayers arriving…
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Inheritance Tax Receipts up £100m Annually

The Government’s inheritance tax intake totalled £600m in April 2023, a figure £100m up on the equivalent April 2022 figure, recent data published by HMRC has indicated. This follows the record-breaking 2022/23 tax year which saw £7.1bn raised in inheritance…
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Immediate Action Required on Certain Charitable Donations

For more than a decade, individuals making donations to European Union (EU) and European Economic Area (EEA) charities and Community Amateur Sports Clubs (CASCs) have generally been able to claim UK income tax, capital gains tax and inheritance tax reliefs…
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Inheritance Taxpayers Rise by 24 percent

  HM Revenue & Customs has reported that 41,000 people were liable to paying inheritance tax in the 2022/2023 financial year. This represents an increase of 24% compared to 33,000 people the previous year and is now the highest figure…
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