Cookies on the Attwoods website

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Attwoods website.

Explore insightful perspectives and expert advice on finance

Home |Latest news |IHT receipts reached £2.1 billion between April and June, data shows

Latest news

Browse by category
Business News

IHT receipts reached £2.1 billion between April and June, data shows

July 22 2024

Data published by HMRC has revealed that inheritance tax (IHT) receipts reached £2.1 billion between April and June 2024.

The latest figure is £83 million higher when compared to the same period last year. More taxpayers were liable to pay the tax as a result of a freeze on thresholds and an increase in asset prices.

Additionally, the nil-rate band and the residence nil-rate band (RNRB) have not been adjusted for inflation or to take rising property values into account, meaning more estates are becoming liable to IHT.

Nicholas Hyett, Investment Manager at the Wealth Club, commented: 'IHT remains a political hot potato. The new government has promised not to raise a whole host of taxes, but inevitably there are spending pledges that need to be met. That means those taxes that haven't been officially ringfenced, including IHT, are firmly in the spotlight.'

Mr Hyett stated that reforms to non-dom rules are potential sources of an IHT windfall, but these reforms would need to be 'handled sensitively'. 

Here to help

Please complete the form below and our expert team will be in touch.
  • Contact details

    • *
    • *
  • What services are you interested in?

    • *
  • Message

    • *
  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.