Gifting regime 'overhaul' feared as IHT take climbs again

IHT receipts rise to £7bn for financial year so far

Jen Frost
clock • 4 min read

Inheritance tax (IHT) receipts hit £7bn for the reported financial year so far, amid a warning that public finance and geopolitical pressure could again see the tax in chancellor Rachel Reeves’ crosshairs.

The reported figure represents a £700m increase on the same period, April to January, the previous year. "‘IHT receipts continue to grow strongly with the OBR suggesting significant increases will continue over the next few years," Nucleus technical services director Andrew Tully said. The OBR's £8.3bn estimate for full year 2024/25 would represent a 10.7% increase from last year. "It suggests receipts will increase further in the years to come due to recent policy changes including limits to agricultural and business reliefs and extending the freeze in IHT nil-rate bands to 2029/3...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Integrating lifetime mortgage advice into IHT planning

Integrating lifetime mortgage advice into IHT planning

'Now is the time to get ahead of the curve'

Dave Harris
clock 03 September 2025 • 4 min read
Investors are 'sleepwalking' into a dividend tax shock

Investors are 'sleepwalking' into a dividend tax shock

‘The number of people paying dividend tax has exploded’

Laura Suter
clock 02 September 2025 • 2 min read
Pension reform and IHT: Why advisers are turning to EIS

Pension reform and IHT: Why advisers are turning to EIS

'As pensions lose some of their tax advantages, EIS is coming to the fore in estate planning conversations'

Moray Wright
clock 26 August 2025 • 4 min read