Inheritance Tax Statistics 2015 to 2016

Inheritance Tax Statistics 2015 to 2016

HM Revenue & Customs has released (27 July 2018) its annual Inheritance Tax Statistics and revealed that inheritance tax (IHT) has reached a record £5.2 billion. See https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/731610/Inheritance_Tax_National_Statistics_Commentary.pdf

“Inheritance Tax Statistics 2015 to 2016

“Key Statistics

 In 2015-16, 4.2% of UK deaths were liable to IHT, increasing slightly by 0.3 percentage points since 2014-15. This continues the longer term increase since 2008-09 and is partly due to freezing the NRB (£325,000) since April 2009.

 IHT receipts totalled £5.2bn in 2017-18; this is an increase of 8% (£388m) compared to 2016-17 and has been increasing since 2010-11. There was a 22% increase in receipts from 2014-15 to 2015-16, which reflects an estimated 43,900 excess winter deaths in 2014-15.

 Net capital value of estates, since 2009-10, has increased by £17bn to £79bn in 2015-16, around 54% of this increase is in residential property.

 The total number of liable estates has increased every year since 2009-10. In 2015-16 there were 24,500 liable estates, an increase of 1,300 since 2014-15.”