Thousands more pay inheritance tax with figures expected to double before decade’s end

Number of deaths triggering inheritance tax rose 13% in a year with more increases predicted as Rachel Reeves’ pension reforms apply from April 2027

Inheritance tax. Man climbing a ladder of coins
Thousands more pay inheritance tax with figures expected to double before decade’s end
(Image credit: DNY59)

The number of Brits paying inheritance tax on their loved ones estates has jumped again to near record highs, with experts calling it the ‘tip of the iceberg’ before Rachel Reeves’ reforms kick in.

Around 3,700 more deaths resulted in inheritance tax in the year 2022 to 2023, according to the latest figures from HMRC. This brings the total to 31,500 taxpaying IHT estates, an increase of 13% on the previous year.

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Laura Miller

Laura Miller is an experienced financial and business journalist. Formerly on staff at the Daily Telegraph, her freelance work now appears in the money pages of all the national newspapers. She endeavours to make money issues easy to understand for everyone, and to do justice to the people who regularly trust her to tell their stories. She lives by the sea in Aberystwyth. You can find her tweeting @thatlaurawrites