{"id":31169,"date":"2025-08-18T11:41:32","date_gmt":"2025-08-18T10:41:32","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/08\/15\/in-the-news-wealth-2\/"},"modified":"2025-08-20T13:35:15","modified_gmt":"2025-08-20T12:35:15","slug":"in-the-news-wealth-2","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/08\/18\/in-the-news-wealth-2\/","title":{"rendered":"In the news \u2013 Wealth"},"content":{"rendered":"<div class=\"hd-block hd-block-table\">\n<figure class=\"wp-block-table\"><table><tbody><tr><td>IHT revenues are expected to hit \u00a39.1bn in 2025\/26, rising to over \u00a314bn by 2030&nbsp;<\/td><td>Higher-rate taxpayers could miss out on \u00a397,000 in extra pension wealth by not claiming full tax relief through self-assessment&nbsp;<\/td><td>Scrapping non-dom tax status may risk public revenues rather than boost them&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>IHT receipts continue to rise<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>HMRC figures<sup>1<\/sup> show the 2024\/25 tax year saw a record \u00a38.2bn raised in IHT. The new tax year started in the same vein with the Treasury collecting \u00a3780m in IHT in April 2025, up \u00a397m from April 2024, making it the second-highest monthly IHT total on record. According to the OBR\u2019s Spring Statement forecast, IHT revenues are expected to hit \u00a39.1bn in 2025\/26, rising to over \u00a314bn by 2030.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Don\u2019t miss out on tax relief<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Higher-rate taxpayers could miss out on up to \u00a397,000 in extra pension wealth by not claiming full tax relief through self-assessment<sup>2<\/sup>. While 20% relief is automatic, higher-rate taxpayers can claim an extra 20% and additional-rate taxpayers up to 25%. Understandably, many people don\u2019t realise there are extra steps required to claim full tax relief, but even if you don\u2019t complete a tax return, HMRC can be contacted to claim the additional relief.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The cost of non-domicile tax reform<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>A report from the Centre for Economics and Business Research (Cebr)<sup>3<\/sup> has warned that Chancellor Rachel Reeves\u2019 plan to scrap tax exemptions for resident non-domiciled individuals could reduce public revenues by up to \u00a312.2bn by July 2029. Cebr estimated that if a quarter of non-domiciled remittance basis taxpayers leave the UK due to the reforms, the net gain to the Treasury would be zero.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>HMRC, 2025, <sup>2<\/sup>Interactive Investor, 2025, <sup>3<\/sup>Cebr, 2025&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>IHT revenues are expected to hit \u00a39.1bn in 2025\/26, rising to over \u00a314bn by 2030&nbsp; Higher-rate taxpayers could miss out on \u00a397,000 in extra pension wealth by not claiming full tax relief through self-assessment&nbsp; Scrapping non-dom tax status may risk public revenues rather than boost them&nbsp; IHT receipts continue to rise&nbsp; HMRC figures1 show the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":31224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/31169"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=31169"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/31169\/revisions"}],"predecessor-version":[{"id":31174,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/31169\/revisions\/31174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/31224"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=31169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=31169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=31169"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=31169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}