Record IHT receipts up 16% year-on-year with £0.9bn increase

Inheritance tax (IHT) receipts for April 2022 to February 2023 were £6.4bn, which is an increase of £0.9bn compared to the same period last year, latest government data showed. Statistics from HM Revenue & Customs (HMRC) revealed February 2023 receipts totalled £531m meaning the tax take for 2022/23 to date stands at £6.4bn. This figure already beats the £6.1bn received by the Treasury throughout the entire 2021/22 financial year by £353m, provider Just said. It comes after last week's revision by the Office for Budget Responsibility which projected future IHT with estimates that b...