Treasury set to benefit from a £2.4bn boost from IHT

Will raise £14.3bn after pensions come under the IHT umbrella

Isabel Baxter
clock • 2 min read

The Office for Budget Responsibility (OBR) has projected that the Treasury is set to benefit from a further £2.4bn boost from inheritance tax (IHT).

The OBR's projections were released today (26 March) alongside chancellor Rachel Reeves' Spring Statement forecast that IHT will now raise £66.9bn between 2024/25 and 2029/30. In comparison to estimates made at the Autumn Budget, it now means that the Treasury is set to benefit from a further £2.4bn boost from IHT in this Parliament. Source: OBR Reeves was quiet on the tax changes front in today's Spring Statement, compared to the Autumn Budget where pensions were brought into the IHT scope and the £350,000 threshold was confirmed to be frozen until 2030. IHT receipts are fo...

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Isabel Baxter
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Isabel Baxter

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