IHT receipts hit £2.4bn

IHT receipts hit £2.357bn for April to August, HMRC has revealed.

The figures could be the last published before a detailed report commissioned by the Chancellor is released by the Office of Tax Simplification (OTS).

NFU Mutual chartered financial planner Sean McCann said: “The OTS report on inheritance tax is imminent and it’s likely the Chancellor will want the recommendations to the part of his Budget considerations.

“Inheritance tax is deeply unpopular and fiendishly complicated. Recent changes have just added to the problem, in many instances the complexity of the rules means that many families are missing out.”

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