'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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

CGT: A stealth tax representing advice opportunity

CGT: A stealth tax representing advice opportunity

'The sharpest sense of grievance may be among business owners'

Andrew Aldridge
clock 12 August 2026 • 8 min read
The forgotten side of IHT planning: Giving clients permission to enjoy their wealth

The forgotten side of IHT planning: Giving clients permission to enjoy their wealth

'I believe IHT planning is becoming as much about psychology as legislation'

Lee Quinn
clock 11 August 2026 • 4 min read
IHT liabilities hit record £7.03bn in 2023-24 tax year

IHT liabilities hit record £7.03bn in 2023-24 tax year

Figures ‘set to accelerate’

Sophia Panayi
clock 30 July 2026 • 2 min read