IHT receipts up £0.7bn year-on-year, says HMRC data

'the gift that keeps on giving for the Treasury'

clock • 3 min read
Andrew Tully, technical director at Canada Life said: "This will be welcome news for Chancellor Sunak today on the eve of the Spring statement as the tax intake continues to grow across the board."
Image:

Andrew Tully, technical director at Canada Life said: "This will be welcome news for Chancellor Sunak today on the eve of the Spring statement as the tax intake continues to grow across the board."

Inheritance tax (IHT) receipts for April 2021 to Februrary 2022 were £5.5bn, some £0.7bn higher than in the same period 12 months earlier, latest figures from HM Revenue & Customs (HRMC) revealed.

The government department said it expected higher receipts from March to August 2021 due to a "higher volumes of wealth transfers that took place during the Covid-19 pandemic", however it said it would...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Tax planning