Estates

Inheritance Tax & the 2023 Autumn Statement

Despite weeks of press speculation based on wishful thinking, the following few sentences appeared on the government’s website a few seconds after the Chancellor sat down from giving his Autumn Statement on 22 November: “Inheritance tax nil-rate band and residence…
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Inheritance Tax Investigations Are Becoming Normal

The amount of inheritance tax recovered  by HMRC 2021/22 financial year was £326m – up from £254m in the previous 12 months. Since 2019, more than 13,000 people across the UK have been the subject of investigations and tax recoveries…
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Business Succession, Mutual Wills & Proprietary Estoppel

The England and Wales High Court (EWHC) has rejected a will challenge made by two brothers on the basis of mutual wills allegedly made by their parents. Nevertheless, it allowed the claim on the alternative ground of proprietary estoppel.  This…
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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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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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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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