Inheritance tax take on gifts up for three years in a row
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The UK’s inheritance tax (IHT) take on gifts has increased for three consecutive years, according to new figures.
The number of estates liable for IHT on gifts rose from 873 estates in 2015/16 to 920 in 2016/17 and then 993 in 2017/18, FT reports.
The total tax charged on gifts rose from £135 million in 2015/16 to £156m in 2017/17 and then £197m in 2017/18.
Altogether, HM Revenue & Customs raised £5.2 billion in 2017/18 from 24,200 estates.
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