Surge in tax receipts

Inheritance tax (IHT) receipts in February totalled £531m, bringing in a record for the year so far at £6.4bn

Total tax receipts for the year April 2022 to February 2023 totalled £722.6bn, which was £66bn higher than the same period last year.

Tax receipts from income tax, capital gains tax (CGT) and National Insurance contributions (NICs) hit a total of £45.9bn in February, down from £68.9bn in January.  

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