IHT receipts hit £3.7bn at the start of FY25

These figures released by HM Revenue and Customs (HMRC) this morning (19 September) represent an increase of £190m, or 5%, compared to the same period last year when £3.5bn was collected. That signalled the start of a fourth consecutive record-breaking year of IHT with £8.2bn collected from IHT in the 2024/25 financial year. It has been confirmed that chancellor Rachel Reeves is set to deliver the Autumn Budget on the 26 November, as the nation waits for what will be outlined next. Commentators have suggested that the chancellor will be focused on tax increases, though Reeves and p...