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Rise in payment of IHT

Our People - Andrew Guile
15 October, 2015

HMRC has reported that the amount of money paid in inheritance tax rose by 15 per cent in 2013, with just under 18,000 families paying £3.05 billion, representing the largest sum recovered since 2008.

The current plans are to increase the nil rate band threshold from £325,000 to £500,000 per person which will reduce IHT paid. However, the changes are scheduled to take effect in 2017 and, with ever increasing house prices, it’s likely that the government can still expect to benefit from increasing payments of IHT.

Andrew Guile founded GN Law together with Omiros Nicholas in 2006. Andrew specialises in all aspects of complaints and compensation claims against the police, mental health law and wills & probate litigation.

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