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

Bitget2026/10/21 16:03

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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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quilter plc published the original content used to generate this news brief on October 21, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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

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