Inheritance tax investigations by HMRC continue to increase. Waqar Shah and Anna Metadjer outline the current state of play.
Inheritance tax liabilities for the tax year 2021 – 2022 were the highest ever recorded at £5.99 billion, as confirmed by annual statistics issued by HMRC on 31 July 2024. Given the sums involved, it is unsurprising that inheritance tax is a particular area of focus for HMRC investigations, which are reported to have resulted in recoveries of £1.39billion in underpayments of inheritance tax over the past five years.
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