Inheritance Tax paid by families more than doubles in a decade

Inheritance tax paid by families has more than doubled in a decade, prompting renewed calls to reform the levy. Total receipts from IHT have increased from £2.7bn in 2010 to £5.4bn, according to Treasury documents. The allowance has been frozen at £325,000 since 2009 despite rising inflation and a surge in house prices. And the threshold will continue to be frozen until at least April 2026 as part of Rishi Sunak’s efforts to plug the Covid-induced hole in Britain’s finances. Experts say soaring house prices mean the threshold is now far too low, arguing it should have risen in line with property inflation.

The Mail on Sunday

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