A total £2bn was raked in by the government in the form of inheritance tax (IHT) between April and June – £0.2bn more than at this time last year according to HM Revenue & Customs (HMRC).
Latest HMRC data today (21 July) confirms the figure for June alone is the highest monthly total on record and points at recent interest rate rises and the subsequent need for charges on overdue tax bills as the catalyst. "IHT is the tax gift that keeps on giving," said Canada Life tax and estate planning specialist Julia Peake. "Receipts are already firmly on track to break new records." Indeed, the high figures break down at around £22m a day for the government's coffers. While reports that the Conservatives are planning to scrap the tax have been circulating lately, Evelyn Partn...
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