Inheritance tax receipts hit £1.2bn

More people are being hit by inheritance tax as rising property prices translates to more estates becoming liable for the tax.

Older couple looking at laptop
(Image credit: Getty Images)

Inheritance tax (IHT) receipts totalled £1.2bn in April and May — the first two months of the current 2023/24 tax year – according to government data published today.

The figure is £100m more than the figure recorded in the same period last year.

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Katie Binns

Katie is deputy editor of Times Money Mentor and long-time contributor to the Sunday Times where she started on the Irish desk in 2012 and spent 10 years covering news, culture, travel, personal finance and celebrity interviews. 

Her investigative work on financial abuse has examined the response of banks, the Financial Ombudsman and the child maintenance service to victims, and resulted in a number of debt and mortgage prisoners being set free - and a nomination for Best Finance Story of the Year at the Headline Money awards in 2021 and 2022. 

Katie was also shortlisted for Freelance Journalist of the Year at the Headline Money awards in 2022, 2023 and 2024 and won Personal Finance Journalist of the Year at The British Bank Awards 2022.