IHT enquiries surge to six-year high

HMRC has reported a significant rise in inheritance tax enquiries, reaching 4,940 in the last financial year, an 18% increase from the previous year. This comes as IHT receipts hit a record £8.5bn, driven by frozen thresholds. Nikita Cooper, director at Price Bailey, noted that only 40% of compliance checks led to an amendment, down from 45% the year before and 83% in the 2021 financial year. "This is unfair on the taxpayers who are coping with bereavement," she added.