Rising IHT receipts on track for 'record-breaking' year

Govt netted £5.3bn between April and December 2022

Jenna Brown
clock • 3 min read

The government netted £5.3bn from inheritance tax (IHT) between April and December 2022, which was £0.7bn higher than in the same period a year earlier, latest official statistics show.

Figures from HM Revenue & Customs (HMRC) showed frozen thresholds were catching more estates in the IHT net. Canada Life technical director Andrew Tully said: "The latest IHT receipts suggest we are on a trajectory for a record-breaking year, with the frozen thresholds catching more estates in a wider tax take. IHT is no longer an issue for the wealthy only, but with effective financial planning much can be done to minimise the impact of IHT on estates, including the use of trusts and gifting. "Financial advisers will be helping clients navigate the complexities of IHT by discussing e...

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