Inheritance tax receipts surge by 10% – can you reduce your IHT liabilities?

Bereaved families are paying more than ever in inheritance tax, but there are some ways to reduce your bill.

Couple look worried as they look at laptop on kitchen table.
Inheritance tax receipts for April 2024 to March 2025 surged to £8.2 billion
(Image credit: shapecharge via Getty Images)

Loved ones inheriting money, property and other assets paid a record amount in inheritance tax (IHT) last year, according to today’s (23 April) update from HMRC.

Official figures show inheritance tax receipts totalled £8.2 billion in 2024/25 – the fourth consecutive annual record sum. It surpasses the £7.5 billion total from 2023/24 by £750 million, or 10%.

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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