Inheritance Tax has been called an ‘optional tax’ by some, though latest figures revealed that £5.1bn of IHT was collected in the year ended 31 May 2017.

National Statistics have revealed that the £5bn barrier was breached for the first time, up 9% from the £4.7bn for 2015/16.

Both April 2017 and May 2017 have resulted in tax receipts exceeding £0.5bn per month: indication that it could be heading for £6bn a year sooner rather than later.

See our guides for the latest changes and the IHT reliefs available:

IHT: Inheritance Tax Rates and Allowances

IHT Agricultural Property Relief & Farmhouses

IHT Agricultural Property Relief & Land

IHT Business Property Relief (subscriber guide)

IHT transferable nil rate band

IHT transferable nil rate band

Main Residence Nil Rate Band (RNRB)

Normal expenditure out of income

IHT: non domiciles

IHT: estate planning checklist


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