Conservative Think Tank The Taxpayers Alliance Claims The Uk Has The Fourth Highest Inheritance Tax Rate In The World After Japan France And Germany

Inheritance tax rates set to soar

Conservative think tank, the TaxPayers' Alliance, claims the UK has the fourth highest inheritance tax rate in the world, after Japan, France and Germany

Inheritance tax liabilities rose 4 per cent to £6bn, compared with the previous year, says HM Revenue. The annual report from HM Revenue & Customs (HMRC) reveals that inheritance tax can cost loved ones hundreds of thousands of pounds when you die, with it generating £7 billion for HM Revenue in 2019-20.

The IHT400 is a comprehensive account form that needs to be submitted to HM Revenue Customs (HMRC) by the person responsible for administering the estate. HM Revenue & Customs are currently taking approximately 20 working days to review an IHT400 Inheritance.