Eight ways to reduce your inheritance tax bill

The government has collected a record amount of inheritance tax in recent years – but these steps could help you cut your bill

Family on a sofa
(Image credit: © Getty Images)

Inheritance tax (IHT) is often voted one of the least-popular taxes in Britain, and it’s likely to get even more attention in the years to come as rising house prices and fiscal drag send bills higher and draw more families into the IHT net.

The total amount collected by the government hit an all-time high last year at £7.5 billion (2023/24 tax year). Furthermore, the latest IHT receipts published by HMRC suggest we are on track for another record year in 2024/25.

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.

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