Figures from HMRC show that inheritance tax (IHT) receipts for April 2021 to October 2021 are £3.6 billion, which is £600 million higher than in the same period a year earlier.
The higher receipts, especially in October 2020, November 2020, and March to August 2021, are expected to be due to higher volumes of deaths and resulting wealth transfers that took place during the Covid-19 pandemic, though HMRC has stated it cannot verify this until more data becomes available.
Ami Jack,...
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