The Revenue’s stringent approach to combatting tax avoidance has led to recent investigations into missing inheritance tax (IHT) payments. Last year’s investigations resulted in the recovery of £326 million of unpaid IHT.
The inheritance tax thresholds have remained the same since 2021 and this, coupled with rising inflation rates has led to the increasing value of assets, and accordingly a greater number of estates where IHT is payable.
For advice on tax planning please contact private wealth partner, John Goodchild.
This article is for general purpose and guidance only and does not constitute legal advice. Specific legal advice should be taken before acting on any of the topics covered. No part of this article may be used, reproduced, stored or transmitted in any form, or by any means without the prior permission of Brecher LLP.