HMRC sees £700m rise in inheritance tax take

In this month’s tax receipts, inheritance tax (IHT) has increased by £700m with HMRC collecting a total of £3.1bn in six months compared with £2.4bn for the same period last year

In the April to September 2021 tax receipts, HMRC has reported that it had collected £700m more in inheritance tax which is around 29% than last year’s figures.

HMRC said the higher receipts in October and November last year, as well as between April and September this year were due to increased volumes of wealth transfers that took place during the pandemic.

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