The overall government tax take for the first half of 2022/23 has hit £3.5bn aided by £557m in inheritance tax (IHT) brought into HM Treasury during September, HM Revenue & Customs (HMRC) data reveals.
It comes after IHT surpassed a record £6bn in the second half of last financial year, representing the highest figure seen before and the fourth year-on-year rise. HMRC figures today (21 October) suggest the current tax year is now set to post consecutive all-time high takes. Evelyn Partners tax partner Julia Rosenbloom said the increase would be "music to the ears of a Treasury that has a difficult task of attempting to balance the books" following the disastrous Mini Budget on 23 September, which ultimately lead to Liz Truss' resignation as prime minister yesterday (20 October). ...
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