Composition of government revenue, 2023–24 forecast Share: Note and source Note: The composition of the different categories shown in the pie chart can be found in the source table.Source: IFS revenue composition spreadsheet, available here. Appears in Where does the government get its money? Related content Inheritance tax explained Inheritance tax is levied on wealth bequeathed at death, or given away shortly before death, above a threshold. Around 5% of all deaths attracted inheritance tax in 2022–23. Taxlab Taxes Explained Composition of estates by value, among those reported to HMRC, 2020–21 Taxlab Data Item Distribution of estate values and average effective inheritance tax rate among taxpaying estates worth more than £300,000 and reported to HMRC, 2020–21 Taxlab Data Item Inheritance tax reductions for gifts before death, 2023–24 Taxlab Data Item