{"id":1256,"date":"2016-04-05T11:19:55","date_gmt":"2016-04-05T11:19:55","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1256"},"modified":"2016-04-05T11:19:55","modified_gmt":"2016-04-05T11:19:55","slug":"hmrc-reels-in-record-4-3bn-from-inheritance-tax","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/hmrc-reels-in-record-4-3bn-from-inheritance-tax\/","title":{"rendered":"HMRC reels in record \u00a34.3bn from inheritance tax"},"content":{"rendered":"<p>According to figures from the UK tax office, HMRC managed to net \u00a34.3 billion in revenues from Inheritance Tax (IHT) in the 11 months to February of this year.<!--more--><\/p>\n<p>Statistics published today showed that revenues have been on the rise since 2008\/9.<\/p>\n<p>Figures plummeted by \u00a31bn in 2008\/9, following a previous record net of \u00a33.82bn, but have been on the rise ever since \u2013 climbing back to \u00a33.8bn in 2015.<\/p>\n<p>The latest figure of \u00a34.3bn represents a new record, which HMRC attributes to an abnormally high death rate between December 2014 and March 2015, coupled with a dramatic all-round increase in the values of assets left in estates.<\/p>\n<p>The figure follows recent criticisms voiced by Conservative party members and The Treasury over Chancellor George Osborne\u2019s plans to introduce a new IHT allowance of \u00a31m for married, home-owning couples in April 2017.<\/p>\n<p>By 2021, the Institute for Fiscal Studies estimates that the number of UK estates liable for IHT will have fallen by approximately 40 per cent.<\/p>\n<p>However, the proportion of estates currently liable remains remarkably high in comparison with the last 35-40 years \u2013 and is estimated to reach 6 per cent in 2020\/21.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to figures from the UK tax office, HMRC managed to net \u00a34.3 billion in revenues from Inheritance Tax (IHT) in the 11 months to February of this year.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1256"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1256"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1256\/revisions"}],"predecessor-version":[{"id":1257,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1256\/revisions\/1257"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}