Inheritance tax receipts rise by £500m as Chancellor mulls cuts

More estates are paying inheritance tax but there are ways to reduce the bill without waiting for reforms

models of people standing on coins
(Image credit: Getty Images)

Inheritance tax receipts (IHT) hit £4.6billion between April and October as frozen thresholds pushed more estates into paying the controversial charge.

Chancellor Jeremy Hunt is rumoured to be considering an IHT cut in the Autumn Statement this week but the latest HM Revenue and Customs figures show a £500m or 12% annual rise in receipts for the Treasury.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.