IHT receipts up 3.1% on previous tax year, increasing by around £160m to £5.4bn
Inheritance tax (IHT) receipts were generally higher in the 2018/19 tax year and saw a 44.4% increase in March from the previous month, according to the latest data from HM Revenue & Customs (HMRC). Overall, IHT receipts ended 2018/19 3.1% up on the previous tax year, increasing by around £160m to £5.4bn. The taxman's data also highlighted that IHT receipts were at their highest level both in terms of annual revenue and as a proportion of GDP. Canada Life wealth management and tax specialist...
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