Mar 3, 2022 | Personal Tax
Revenue collected from inheritance tax (IHT) between April 2021 and January 2022 totalled £5 billion, £0.7bn higher than in the same period a year earlier. IHT receipts were 16% higher during the period, which HMRC predicts is due to higher volumes of wealth transfers...
Mar 2, 2022 | Personal Tax
Over one million individuals completed their self-assessment tax returns in February, using the extra time to file one without facing a penalty. HMRC expected around 12.2m taxpayers to file a return for the 2020/21 tax year and more than 11.3m submitted theirs by 28...
Feb 25, 2022 | Personal Tax
Around £2.8 billion of pension-age benefits went unclaimed in 2019/20, figures from the Department for Work and Pensions revealed. Estimates of take-up suggest seven out of ten of those entitled to pension credit claimed the benefit, taking 77% of all that could have...
Feb 18, 2022 | Personal Tax
Around 100,000 self-assessment taxpayers have set up payment plans to split the cost of their tax bills into monthly instalments in 2021/22. Individuals have paid over £310 million in manageable instalments using time-to-pay arrangements since April 2021. The online...
Feb 17, 2022 | Personal Tax
Fewer than one in five people in Great Britain think inheritance tax is fair, according to research by NFU Mutual. Only 18% of 2,100 respondents polled by the rural insurer think inheritance tax is fair, compared to 57% who think it is unfair. Inheritance tax is...
