Raising the inheritance tax (IHT) threshold to £500,000 and removing the Residence Nil Rate Band (RNRB) would cost the UK Treasury £6 billion from 2024/25 to 2027/28, research from wealth manager Quilter has revealed.
Quilter’s calculations showed this reform would cost the Treasury on average £1.4 billion per year and prevent around 12,500 families paying IHT each year. In the 2020/21 tax year, 27,000 estates paid IHT.
Further calculations revealed t...
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