HM Revenue and Customs (HMRC) data shows IHT receipts topped £6.3bn in the eight months to December 2024, a £600m increase on the same period the previous year.
This significant 11% year-on-year increase places the 2024/25 fiscal year firmly on course to be the fourth consecutive year of record IHT receipts for the Treasury.
Meanwhile, the Office for Budget Responsibility (OBR) has predicted that IHT receipts will continue their ascent, forecasting total receipts of £9.7bn a year by 2028/29.
HMRC said that higher IHT receipts can be attributed to a combination of factors, including a rise in asset values, an increase in wealth transfers following IHT-liable deaths and frozen IHT tax thresholds.
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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
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