New HMRC data has revealed Inheritance Tax (IHT) receipts for April 2022 were higher than the same period a year earlier.

Receipts were up by £10 million in April 2022 to £0.5 billion when compared with the same month a year earlier.

Rosie Hooper, a Chartered financial planner at Quilter, believes the increase could be driven by a rise in the number of paid employees in the last month as well as an increase in monthly pay.

This month’s data includes the first month of i...