More Expensive Deferred Tax Payments on the Horizon

Bank base rates rose to 1.75% on 4 August and so, with respect to estate planning, one may anticipate HMRC’s rate on unpaid tax to increase to 4.25% in the near future. See in relation to my previous post: https://stephenparnhamtaxation.com/inheritance-tax-late-payment-rates-rise-the-implications/…
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HMRC’s Inheritance Tax Take Increases … Again!

HMRC collected a record £6.1bn in inheritance tax in 2021-22, the previous tax year.  That represents a jump of 14% on the £5.4bn collected in the previous year. It is the largest single-year rise since the 2015-16 financial year, when…
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Inheritance Tax Take Continues To Rise

    Inheritance tax receipts for April 2021 to March 2022 were £6.1bn, which is £0.7bn higher than in the same period 12 months earlier, latest data from HM Revenue & Customs (HMRC) revealed. The government data also showed receipts…
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Tax Take from Inheritance Tax to Increase Dramatically

    HM Treasury is set to receive £37bn in inheritance tax payments over the next five years, according to estimates from the Office for Budget Responsibility. Their March 2022 forecast expects intakes of: £6.7bn in 2022-23; £6.9bn in 2023-24;…
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Fact Check: Inheritance Tax 2022

    Inheritance tax paid by families has more than doubled in a decade. Total receipts from inheritance tax have increased from £2.7 billion in 2010 to £5.4 billion, according to a recent review of Treasury documents. The Treasury is forecast to…
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Inheritance Tax Rises Again and Again!

The Increase   HM Revenue and Customs recently announced that it received £6bn for inheritance tax receipts in 2021. This is a 19% or £1bn rise in total receipts from the year before – and also a record intake for…
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