Estates pay record amount of death duties

A record amount of estates paid inheritance tax in 2016/17, according to government figures. More than 28,100 estates were liable for death duties in 2016/17 - a new high for the number of estates charged. The latest figure represented a 15% rise on the previous...

Inheritance tax rebates linked to falling house prices

Falling house prices around the UK could potentially lead to a rise in claims for inheritance tax rebates, a report has claimed. Inheritance tax is currently charged at 40% on the part of an estate that exceeds the £325,000 threshold. This threshold can be increased...

State ‘should contribute towards funeral costs’

Tax and national insurance contributions (NICs) should be used to contribute towards funeral costs, according to a report. Free healthcare through the NHS and the state pension are among the benefits funded by tax and NICs. Research from SunLife claimed one in six...

Official review for controversial loan charge

Chancellor Sajid Javid has announced an independent review of the controversial loan charge that applies to disguised remuneration schemes. HMRC was authorised by parliament to pursue individuals and companies that used the schemes dating back to 1999. The aim of the...

Think tank demands income tax reform

The Government has been urged to increase capital gains tax to bring its rates in line with income tax ahead of Budget 2019. The Institute for Public Policy Research (IPPR) claimed the Treasury could collect an extra £90 billion over the five years if it were to...