News
New figures show that a quarter of estates paying Inheritance Tax (IHT) are investigated by HMRC
16 August 2019
The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for IHT are investigated each year.
In 2018-19, more than 5,500 investigations were launched by HMRC into the approximately 22,000 estates that had to pay the tax.
Despite the introduction of the Residence Nil Rate Band (RNRB) effectively increasing the IHT threshold when a main residence is left to a direct descendent, the number of investigations has increased by 7.8 per cent since 2017.
The figures came within weeks of the Office of Tax Simplification (OTS) unveiling proposals to simplify IHT, which is widely regarded as overly complicated and difficult to understand.
Link: One in four estates that pay inheritance tax investigated by HMRC
Case Studies
-
Child's play with proactive accounts management
-
Customer care is top of the list for packaging business
-
A taste for growth, a thirst for knowledge
-
Taxing demands with old school charm
-
Sometimes a business does exactly as it says on the tin
-
A modern approach required for music moguls
-
A shared passion for architecture and a head for numbers
-
Cut above the rest in personal management style
-
Smiles all round for dental practice