'Death tax tab' concerns soar as IHT receipts hit £6.3bn for ten months

Rumours of a cut are resurfacing with two weeks to go until the budget

Hope Coumbe
clock • 2 min read

HM Revenue & Customs (HMRC) has this morning (21 February) announced the latest inheritance tax (IHT) receipts which show HM Treasury raked in £6.3bn from the controversial tax in the last ten months alone.

With little talk recently on how IHT will be treated in next month's Spring Budget, concerns are continuing to rise around the latest figures on what the government is collecting and what it may mean in an election year. While there have been rumours that the government may cut the headline rate or scrap IHT entirely in the Spring Budget on 6 March, receipts are currently on track to be higher than last year's record total. "IHT has contributed £146m per week to the Treasury and so far this financial year and receipts are up by around 6% compared to the same period last year," Canada ...

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