IHT receipts up £500m from April to July

HM Revenue & Customs (HMRC) collected £2.1bn between April and July 2021 in IHT receipts, £500m more than the same period in 2020. The government said lower receipts at the same point last year were due to a temporary issue where HMRC was unable to accept cheques for payment of IHT due to Covid-19, which created a peak in June 2020 receipts. It also said higher receipts in October 2020, November 2020 and March to July 2021 were expected to be higher due to greater volumes of wealth transfers that took place during the pandemic. However, it said HMRC would not be able to verify this un...