Inheritance tax (IHT) receipts have hit £4.3bn in the six months from April to September 2024, according to figures published by HM Revenue and Customs (HMRC).
This is £400m higher than the same period in the previous tax year and continues the upward trajectory over the last two decades. Higher receipts from March 2022 are expected to be due to a combination of higher volumes of wealth transfers following recent IHT-liable deaths, recent rises in asset values, and the government's March 2021 and Autumn 2022 decisions to maintain the IHT tax free thresholds at their 2020 to 2021 levels up to and including 2027 to 2028. The higher receipts in June 2022, November 2022, June 2023, and October 2023 can be attributed to a small number of higher-v...
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