Inheritance tax (IHT) receipts for April 2023 again crept higher reaching £0.6bn, which is £0.1bn up on the same period last year, latest figures reveal.
IHT receipts were £5.3bn in 2020/21 and £6.1bn in 2021/22 demonstrating how "increasingly lucrative" the tax is for the government, according to Just Group. It also pointed out that the Office for Budget Responsibility's latest forecasts suggested IHT would raise £7.2bn this financial year and as much as £8.4bn by 2027/28 as more estates get caught by the frozen thresholds. Just Group communications director Stephen Lowe said: "The past two years have seen increases of 14% and then 17% in IHT receipts which are growing by nearly £1bn every 12 months. This year has already got off to a...
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