Inheritance tax (IHT) is headed to take centre stage ahead of next year’s general election with HM Revenue & Customs raking in £5.2bn between April and November, new figures show.
Government statistics published today (21 December) mark the final update on IHT for 2023, which has been a bumper year for the controversial tax. The latest £5.2bn recorded means the government take from the tax is officially £400m higher than in the same six-month period last year. "Though Jeremy Hunt opted not to make changes during his latest statement, we are expecting a budget to take place in March during which it could resurface if the Tories view it as a vote winner," said Quilter tax and financial planning expert Shaun Moore. "We will likely see receipts beat the previous ...
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