New HMRC stats show record amount of IHT paid last year

News Team, 27/04/2022

Inheritance tax (IHT) receipts jumped to £5.5 billion between April 2021 and February 2022 according to data released by HMRC. This is £0.7 billion higher than in the same period last year.

HMRC said that higher receipts were expected to be due to higher volumes of wealth transfers that took place during the Covid-19 pandemic, though HMRC cannot verify this until full administrative data becomes available, and this, HMRC claimed, also explains the high receipt...

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