UK Inheritance Tax revenues rise 11% to £5bn, influenced by upcoming tax rule changes.

The UK government collected £5bn in Inheritance Tax (IHT) from April to October 2024, marking an 11% rise from the previous year. This increase supports the government's decision to freeze the IHT threshold until 2023. Financial expert Rachael Griffin notes that upcoming Budget changes, such as including pensions in the taxable estate and reducing Agricultural Property Relief, could further boost IHT revenues, potentially leading to a more urgent need for estate planning.

November 21, 2024
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