HMRC investigations into underpaid Inheritance Tax raised an extra £271 million in 2018/19, a nine percent increase from £249 million in 2017/18, private client law firm Wilsons has revealed.

Wilsons stated that much of this tax is likely to have been raised from investigations into people HMRC believes have under-reported the value of a residential property that they inherited, in some cases by mistake and in others on purpose to reduce Inheritance Tax bills. If HMRC find that the value put on a property within an estate is incorrect, estates face paying the unpaid tax that is due plus a fine of up to 100 percent of the additi...