The number of people paying inheritance tax (IHT) has fallen for the first time since 2009. The tax generated £5.2b in 2019/20, down from £5.4b in 2018/19. One possible reason for the reduction is the introduction of the residential nil rate band which allows families to pass on up to £1m of their estate tax free.
IHT remains a complex area, one which we believe with sensible planning can be significantly reduced.
Andy Butcher spoke to The Telegraph on the latest figures from HMRC. The article can be accessed here.
If you would like to discuss your IHT position and options to reduce your liability, please do not hesitate to contact us.
Please note that you are required to register with the Telegraph for free in order to read the full article. We are not affiliated with The Telegraph and the views and information expressed on their website are their own