Concern mounts over IHT hike as HMRC receipts sees 50% leap

clock • 1 min read
Concern mounts over IHT hike as HMRC receipts sees 50% leap

Inheritance tax (IHT) receipts for April and May 2021 were more than 50% higher than the same two months in 2020, according to the latest data from HM Revenue & Customs. HMRC said the 54% year-on-year hike could be the result of "high volumes of wealth transfers that took place during the Covid-19 pandemic". That said, the taxman could not verify that theory until more data becomes available. The data also revealed full-year IHT receipts of £5,326m for 2020-2021. A £204m increase fro...

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