UK inheritance tax revenues surged to £6.3 billion in 2024, up £600 million from the previous year.

UK inheritance tax (IHT) receipts hit £6.3 billion from April to December 2024, a £600 million increase from the previous year. This rise is attributed to higher wealth transfers, increased asset values, and frozen IHT thresholds until 2030. To reduce IHT, experts recommend making a will, gifting assets within annual allowances, and using trusts. Pensions will be included in taxable estates starting in 2027, likely increasing IHT liabilities further.

2 months ago
9 Articles