Inheritance Tax and You Inheritance tax (IHT) receipts have surged by an astounding 22.9% in the first quarter of the tax year, and according to HMRC the amount of IHT paid in the last year has reached an all-time high. But what does this mean for the average person? We cover the basics on IHT.…

What is IHT? IHT, short for Inheritance Tax is a tax introduced by the Inheritance Tax Act 1984. It is argued that IHT is a tax on wealth because anyone with an estate worth over £325,000 will have to pay Inheritance Tax on their death, hence why it is also referred to as the death tax.…