Inheritance tax receipts set to hit a record

The taxman is collecting more inheritance tax (IHT) than ever before and this trend is set to continue. We explain why and what you can do about it.

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The latest data from HM Revenue and Customs (HMRC) show that Inheritance Tax Receipts (IHT) reached £3.9 billion in the six months from April to September this year- a £400 million rise from the same period last year as more estates are pulled into the IHT net due to frozen thresholds.

Nicholas Hyett, Investment Manager at Wealth Club said: “Inflation, rising house prices and frozen allowances are pushing more families within the reach of inheritance tax every year. 

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Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.