Stagnant property market hits IHT tax take

The amount of inheritance tax (IHT) paid year-on-year has fallen for the first time in a decade, according to figures from HMRC.

A series of weak months from January to June 2018, probably caused by the stalled property market, saw HMRC’s total IHT receipts fall from GBP5.19 billion to GBP5.18 billion in the 12 months to the end of August 2018, although IHT revenues have recovered since July –