Inheritance tax (IHT) receipts for April to August rose 12% year on year to £2.9bn, according to new data this morning from HMRC.

IHT receipts in the latest quarter (April to July) jumped to £2.4bn, up £300m year on year, as the rapid upward trend in IHT continued. 

Inheritance tax (IHT) receipts rose 14% to £6.1bn in the 2021/22 tax year, the largest single-year rise since 2015/16.

Changes to the inheritance tax (IHT) system could be a vote winner for politicians at the next election as IHT receipts continue to rise, according to Financial Planners.