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UK residents paid out a record amount of inheritance tax in July after the number of Covid deaths soared. According to new figures published by the Office for National Statistics (ONS), receipts from the 40 per cent death duty hit £571 million in last month, marking the most ever paid in a sin

Inheritance, estate and gift taxes could play a stronger role in addressing inequality and improving public finances, according to the Organisation for Economic Co-operation and Development (OECD). Inheritance taxation can be an important instrument to address inequality, particularly in the cu

Inheritances in the UK are set to grow dramatically compared to other income, research by The Institute for Fiscal Studies (IFS) shows. For those born in the 1980s, average inheritances compared to lifetime income are projected to be almost twice as large as for those born in the 1960s. 

Judgment in a tax case will be handed down by the Supreme Court next Wednesday via video link. Commissioners for Her Majesty’s Revenue and Customs (Respondent) v Parry and others (Appellants) is principally about whether the pension scheme transfer by the late Mrs Rachel Staveley, an

You might recall headlines a few years ago, amid political jostling, of £1 million free of inheritance tax? Well, as of 6 April this year, this became true – for a limited number of people in particular circumstances. So who falls into this 'magic million' category? Firstly, it’s i

The All Party Parliamentary Group on Inheritance Tax and Intergenerational Fairness has published proposals for radical reform of the current inheritance tax system. The move follows two previous reports from the Office of Tax Simplification (OTS), with the APPG proposing sweeping changes.