https://birminghamdaily.co.uk/tags/connect/Recent content in connect on Birmingham DailyHugo -- gohugo.ioen-usMon, 20 Apr 2026 04:51:03 +0000https://birminghamdaily.co.uk/hmrc-targets-uk-families-over-misinterpreted-gifts-resulting-in-61-million-inheritance-tax-bills/Mon, 20 Apr 2026 04:51:03 +0000https://birminghamdaily.co.uk/hmrc-targets-uk-families-over-misinterpreted-gifts-resulting-in-61-million-inheritance-tax-bills/HMRC is turning a spotlight on UK families as certain gifts to loved ones unintentionally trigger substantial inheritance tax bills. In the 2023-24 tax year alone, approximately 220 gifts valued at £61 million breached HMRC’s “gift with reservation of benefit” rules, resulting in surprise tax liabilities. Mark Chandler, a financial planner at Shackleton Advisers, explains the issue: “When a gift is made but the donor continues to benefit from the asset in some way, the benefit is said to be ‘reserved.