HMRC have confirmed that they received £4.9 billion in Inheritance Tax in the last year, 4% more that was predicted by the OBR.
The OBR expects IHT receipts to rise further to more than £6bn by 2022.
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A large Inheritance Tax bill is always unwelcome and can cause a great deal of stress to loved ones, particularly if there is no way to pay it without selling the family home. Thankfully there are a number of ways to plan ahead to reduce your IHT bill or to ensure funds are there to pay it when the need arises.
Taking expert financial advice can be invaluable to ensure your loved ones benefit as fully as possible from the wealth you have accumulated during your lifetime. Contact us today to speak to one of our expert advisers today to find the best IHT strategies for you.