HMRC raised £2.9bn in inheritance tax in the five months from April to August 2022, a £300m increase over the same period the previous year.

Tax receipts from income tax, capital gains tax (CGT) and National Insurance contributions (NIC) hit a total of £174.6bn, an increase of £21.9bn.

Receipts were higher for business taxes by 23% (£4.7bn), stamp taxes by 29% (£2bn) and IHT increased by 11% (£300m).

Business taxes increased by £4.7bn and totalled £24.7bn between April to August 2022.

VAT increased by £400m compared with the same period a year earlier, reaching a total of £67.4bn. Receipts continue to be influenced by high levels of inflation and changes in consumer expenditure.

Stamp duty land tax (SDLT) receipts hit £8.9bn between April to August 2022, which was £2bn higher than in the same period last year.