Quilter Says Fiscal Drag Drives UK Tax Receipts Higher Ahead of Budget

By Public Technologies
  • Quilter tax expert Rachael Griffin said on October 21, 2026, fiscal drag was boosting receipts ahead of the Budget.
  • PAYE income tax and National Insurance receipts reached £253.5 billion between April and September, up £18.2 billion from a year earlier.
  • Inheritance tax receipts totaled £4.7 billion over the same period, up £300 million year over year.
  • Bringing most unused pension funds and death benefits into inheritance tax from April 2027 is expected to sharply increase future receipts.
  • Capital gains tax receipts reached £1.13 billion, up £1 million year over year; Budget speculation may have prompted earlier disposals.


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