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\t\tThe Treasury received a record amount of inheritance tax last year.\t<\/p>\n\t\t\tThursday 23 April 2026 1:49 pm\n\t\t\t<\/p>\n
\t\tThe Treasury received a record amount of inheritance tax last year.\t<\/p>\n
Inheritance tax receipts soared to a record high over the last financial year as Labour\u2019s targeting of property owners helped fund sweeping spending increases.\u00a0<\/p>\n
Official data on Thursday morning showed that annual inheritance tax receipts rose to \u00a38.5bn in the year between 2025 and 2026. This compared to total receipts of \u00a38.3bn in the previous year.\u00a0<\/p>\n
The rise in inheritance tax collection<\/a> coincided with a broader rise in receipts over the year as the government\u2019s income rose by more than nine per cent, or \u00a387.7bn, compared to the financial year ending in 2025.\u00a0<\/p>\n Stricter inheritance rules, which formed part of the government\u2019s non-dom crackdown, plus the continuation of the freeze in the nil rate band of \u00a3325,000 for estates have boosted receipts, with further increases expected to come until around 2031 when thresholds are unfrozen.\u00a0<\/p>\n The figures do not include any uplift from the government\u2019s inheritance tax raid<\/a> on family businesses and agricultural property or its decision to make pensions savings liable to the tax, which all only came into force this month. <\/p>\n The decision to end carve outs for those farming a family firms has sparked a wave of warnings from entrepreneurs, including James Dyson, hotelier Sir Rocco Forte and JCB heir Jo Bamford.<\/p>\n Susannah Streeter, chief investment strategist at Wealth Club, said more \u201cordinary families\u201d would be pulled into paying inheritance tax as the freeze on valuation bands are extended, contributing to fiscal drag.\u00a0<\/p>\n \u201cHMRC\u2019s tougher enforcement is adding further pressure at what is already a difficult time for bereaved families,\u201d Streeter said.\u00a0<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tThe tax effect: Reeves borrowed less than OBR forecast<\/a><\/p>\n \u201cWith the tax base widening and sharp \u2018cliff edges\u2019 in the relief system still in place, proactive planning and accurate reporting have never been more important.\u201d<\/p>\n She suggested that the Labour government<\/a> had made a \u201cmess of inheritance tax reform\u201d.\u00a0<\/p>\n Inheritance tax boosts government coffers<\/p>\n