TAXATION: Proceeds from IHT continue to rise rapidly

August 2, 2025by ghanchi2000
The amount of inheritance tax (IHT) collected by HMRC continues to rise rapidly, reaching £ 6.7 billion in the 2022/23 tax year, some 12 percent higher than the 2021/22 figure. One in every 21 deaths resulted in an IHT charge, equal to the previous high of 2016/17 before the residential nil-rate band was introduced. The average effective tax rate paid by taxpaying estates was 13 percent, rising sharply to 24 percent for estates worth more than £ 1 million and £ 2.5 million as reliefs are tapered away.
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Leeds: 94 Street Lane, Leeds

Batley: 504B Bradford Road, WF17 5JY

Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ

Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham

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