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Chartered AccountantsNew record for IHT receipts
The government enjoyed a £400m year-on-year increase, to £5.2bn, in the amount of IHT collected in 2017-18, according to HMRC’s latest monthly estimate, an 8% increase on the £4.8bn total for 2016-17. The Mail points out that just one in six families who paid IHT benefited from the new family home allowance, though far more were expected to qualify. Meanwhile, analysis by the CBI showed the total amount paid by UK businesses in taxes came in at £186bn in 2017-18, equal to around 27% of all tax revenue, showing that they were "continuing to make a strong tax contribution, despite relatively subdued economic growth".
Source: The Daily Telegraph (25/04/2018)
