"Inheritance tax (IHT) receipts reached £6.6 billion in the first nine months of the 2025/26 tax year, according to data released by HM Revenue & Customs (HMRC) this morning. That figure is £200 million higher than the same period last year and continues a steady upward trend that has persisted for more than two decades. The Office for Budget Responsibility forecast that IHT would raise £9.1 billion during the current tax year."
"The government has made a pig's ear of inheritance tax reform. Crack downs on farmers and business owners have been unpopular, damaging, and ultimately unworkable. The result was a 23rd December U-turn on the amount of inheritance tax relief that can be claimed through Agriculture Property Relief (APR) and Business Property Relief (BPR). That early Christmas present was a relief for farmers and small business owners, but don't let it distract you from the wider picture. The government is still making a massive inheritance tax grab."
HMRC reported IHT receipts of £6.6 billion in the first nine months of the 2025/26 tax year, £200 million higher than the same period last year and continuing a multi-decade upward trend. The Office for Budget Responsibility forecast total IHT of £9.1 billion for the current tax year, and recent Budget measures make that target likely to be met. Planned reductions to APR and BPR were reversed in a 23 December U-turn. Expected long-term IHT growth was projected from £8.3 billion to £14.5 billion by 2030/31, driven by frozen thresholds and changes to pension IHT treatment, meaning the government's share of inheritances will rise unless thresholds are unfrozen or policy is changed.
Read at London Business News | Londonlovesbusiness.com
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