IHT revenue shows 'no signs of running out of steam'

Expect increases to continue, experts agree

Jen Frost
clock • 3 min read

Inheritance tax (IHT) receipts hit £1.5bn for April and May 2025, a £98m increase on the same period the prior year, according to HMRC figures.

Financial services experts expressed little surprise at the increase, which they predicted will become more pronounced in future years as last year's Autumn Budget policy announcements come into play and amid speculation around future gifting rule changes. Business and agricultural property relief changes are slated for April 2026, while chancellor Rachel Reeves has sought to bring pensions into scope of IHT from April 2027. "IHT receipts have increased more than 50% over the past five years with the OBR suggesting significant increases will continue over the next few years," said Nuc...

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