HM Revenue & Customs (HMRC) has today (23 January) revealed that inheritance tax (IHT) receipts for April to December 2023 were £5.7bn, which is £400m higher than in the same period the previous year.
The increase of 7.5% means the Treasury is on course to take record receipts of about £7.6bn from IHT in the 2023/24 tax year, after surging to £7.1bn in 2022/23 - a £1bn increase on 2021/22. This means last year's record-breaking IHT receipts of £7bn could be broken again, continuing the upward trajectory. ‘Advice is crucial' Nucleus technical services director Andrew Tully said: "It looks set to be another record-breaking year for IHT receipts. And with the Office of Budget Responsibility predicting the IHT take will be £8.4bn in 2027/28, receipts are set to continue growing stron...
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