HM Revenue & Customs (HMRC) is set to record a record-breaking amount of income from inheritance tax (IHT) this year, official figures show.
HMRC's latest update, released today (21 December) showed receipts for April 2022 to November 2022 were £4.8bn, which is £0.6bn higher than in the same period last year. Previous updates have shown a similar pattern in IHT proceeds. Canada Life technical director Andrew Tully said: "The latest IHT receipts show we are on for a record-breaking year. With thresholds frozen until at least April 2028, more estates will be coming in from the cold and will likely be caught in this widening tax net, and this is despite predicted house price falls in 2023. "Financial advisers will be helping ...
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