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Death Duties

Volume 457: debated on Thursday 8 March 2007

To ask the Chancellor of the Exchequer what revenue his Department received from death duties in each year since May 1997; how many estates were taxed in each year; and what average amount of tax was charged to an estate in each year. (104501)

Annual inheritance tax revenues received in each year (irrespective of when the charge to tax arose) are given in Table 1.2 of HMRC statistics, available from the HMRC website at:

http://www.hmrc.gov.uk/stats/tax_receipts/1_2_v2_dec05.pdf

Annual figures for the number of estates which pay inheritance tax (on a year of death basis) are given in Table 1.4 of HMRC statistics, also available from the HMRC website at:

http://www.hmrc.gov.uk/stats/tax_receipts/1_4_apr06.pdf

Table 12.3 of HMRC statistics

(http://www.hmrc.gov.uk/stats/inheritance__tax/12.3.pdf)

provides, on a consistent year of death basis, the numbers of taxpaying estates and IHT revenues from estates in the years up to 2003-04 (complete figures for later years are not yet available). The consequent annual figures for the average tax paid per taxpaying estate is given in the following table. Only 6 per cent. of estates pay IHT.

Average IHT per taxpaying estate (£000)

1997-98

102

1998-99

105

1999-2000

108

2000-01

109

2001-02

101

2002-03

93

2003-04

90