In just the past month alone, HMRC collected nearly £800 million in inheritance tax (IHT), marking the second-highest monthly figure ever recorded. As a result, many families not previously considered wealthy are now being swept into the scope of IHT.

Some people are buying to live in their homes, others for investment. Overall, while there’s been short-term fluctuation, the UK property market remains on an upward trajectory. Why is the UK property market still booming?

Millions of people will receive a £150 energy bill discount; the Chancellor is considering easing inheritance tax reforms to curb capital outflows; the Bank of England keeps the base interest rate at 4.25%.

Did you know? Nearly half of retirees to be hit by Inheritance Tax bill. According to data analysis, approximately 46% of individuals aged 85 to 89 receive a State Pension that exceeds the £12,570 tax-free personal allowance, meaning they must pay income tax on their pension income. For retirees aged 90 and above, this figure stands at 45%. Among those under 85, around 22% are also taxed on their State Pension income — effectively subject to a so-called ‘retirement tax’.

Between the 1970s and 1980s, around 5,000 haemophiliacs and other blood disorder patients in the UK were infected with HIV or hepatitis viruses after receiving contaminated blood products from the NHS. Nearly 3,000 died as a result. Under current UK inheritance tax laws, only the first direct heir is exempt. Any subsequent inheritance of that scandal compensation is subject to up to 40% tax.

With the new financial year, a series of tax increases announced in last autumn’s budget came into effect. These changes impact not only income tax, corporation tax, and capital gains tax but also pension reforms, national insurance adjustments, and taxation on high earners and new UK residents’ global income.

Farmers Protest New Inheritance Tax Policies.

Does Paying More Tax Result in a Higher Pension?

Inflation Puts Pensions at Risk of "Shrinking" – 90% Tax on Inherited Pension Funds?

At the end of this month, the Labour government will announce its first autumn budget after taking office.

When it comes to inheritance tax, setting up a trust is often viewed as an effective way to reduce taxes.

If you inherit an estate from family or relatives, you are required to pay inheritance tax to HMRC.

In the UK around 45 million people regularly play the lottery. The vast majority of them have never won anything.