Inheritance Tax

By Sharon Hawkes

It has become apparent that HMRC have increased the amount of inheritance tax they collect via their investigations into estate returns.  A recent Freedom of Information Act 2000 request revealed that HMRC increased the sum collected through inheritance tax investigations by 28 per cent in the last tax year, recovering £326M in 2021/22 compared with £254M in 2020/21.

Some of this increase will be due to rising asset value but HMRC have also increased their resources for investigations, thereby enabling them to undertake far more.  Additionally, they appear to be targeting wealthy individuals with an income above £200,000 or assets of over £2M; this would include any property owned and therefore other assets would not need to be as valuable as might be thought.

Getting good advice on completion of estate returns is always important- as there can be penalties in certain circumstances - but even more so now.

For advice on Inheritance Tax Returns please contact Jessica Johnston or Sharon Hawkes on 01722 410664 or This email address is being protected from spambots. You need JavaScript enabled to view it.

 Sharon Hawkes