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Inheritance Tax changes

The threshold at which people will have to start paying Inheritance Tax on the estate of a loved one is set to rise by 1% from 2015, Chancellor George Osborne announced in his Autumn Statement last week.

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HMRC investigates IHT valuations

HMRC carried out over 9,000 inheritance tax (IHT) valuations during 2010, according to research by accountancy firm UHY Hacker Young. These investigations raised an additional £70 million for the tax man, at an average cost of an extra £24,600 in tax per undervalued estate.

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