Inheritance Tax revenues have recovered this year, hitting £3.42 billion in 2013-14, the highest amount since 2007-8. The way Inheritance Tax was calculated changed in 2007, following the introduction of the Transferable Nil Rate Band – which was slanted as a tax cut. A combination of rising house prices, recovery in investment markets and the Nil Rate Band freeze has helped Inheritance Tax revenues recover. Careful planning is vital to ensure that any assets are passed on in the most tax efficient way possible. For more information about Inheritance Tax planning please get <in touch>.