IHT
‘Home loan’ IHT avoidance scheme escapes double tax charge
But scheme did fail to save any inheritance tax
17% rise in number of families paying IHT
Average inheritance tax bill fell 1% to £214,000 in 2020/21 financial year
Inheritance tax receipts reached £2bn between April and June
A £200m increase from last year
Over 5,000 families reclaimed overpaid inheritance tax last year
With 1,000 families already reclaiming in 2023/24
Just under half of HNW Brits not taken advice on IHT planning
As majority of UK adults planning to pass on wealth in their lifetime have not considered how and when to do this