Inheritance tax receipts rise again as rumours persist about Budget changes

Inheritance tax raised £2.8 billion during April to July 2024, which is £0.2 billion higher than the same period last year. Will the chancellor target the tax in her Budget?

Rachel Reeves in New York in August 2024
(Image credit: Getty Images)

Inheritance tax (IHT) raised £749 million last month, taking the total 2024/25 tax year haul so far to £2.8 billion. 

This marks an increase of £230 million - or 9% - compared to the same four months last year.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.