2024/25 kicks off with £0.7m in IHT receipts; Up £85m on last year

HM Revenue and Customs’ monthly tax bulletin was released this morning

Hope Coumbe
clock • 1 min read

The government has raked in £700,000m from inheritance tax (IHT) in the first month of the new financial year, HM Revenue and Customs (HMRC) data shows.

The HMRC's latest monthly tax bulletin – published today (22 May) – confirms receipts are £85m or 7.2% higher than this time last year. Evelyn Partners tax partners Laura Hayward noted the Office for Budget Responsibility's forecast that the share of deaths resulting in the payment of IHT is set to rise 6.3% in the next four years. "That proportion was as low as 2.7% in 2009/10," she added. "Revenue from IHT and its predecessors has increased over time in real terms from around £2bn in 1980/81 to £7.5bn in 2023/24." Hayward said HM Treasury was also likely to continue raking in mor...

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