Record IHT receipts up 16% year-on-year with £0.9bn increase

Statistics from HM Revenue & Customs (HMRC) revealed February 2023 receipts totalled £531m meaning the tax take for 2022/23 to date stands at £6.4bn. This figure already beats the £6.1bn received by the Treasury throughout the entire 2021/22 financial year by £353m, provider Just said. It comes after last week's revision by the Office for Budget Responsibility which projected future IHT with estimates that between 2022/23 and 2027/28, the Treasury would net almost £3bn more than previously forecast. Just said the projected total IHT tax take by 2027/2028 sits at £45bn, compared to ...