Posted on 20th December 2023
Since the 2009/10 tax year government receipts from Inheritance Tax (IHT) have increased, reaching over £7billion in 2022/23. By 2027/28 the figure could reach £8.4billion.
These dramatic increases are largely due to rising property values and the continued freeze on inheritance tax thresholds. This means more estates than ever exceed £325,000 when 40% IHT comes in to effect.