IHT revenues already at annual record with one month to go

Comes as pensions and relief changes loom

Inheritance tax (IHT) receipts were £7.6bn for the first 11 months of 2024/25, higher than the previous full-year record of £7.5bn in 2023/24.

Currently, IHT receipts are 11% higher than the same 11-month period in 2023/24 when they stood at £6.8bn. "Another year, another record-busting IHT haul for the Treasury – that is four consecutive years of all-time highs," said Just director Stephen Lowe. "Frozen thresholds and rising property prices have been the predominant forces behind this increase to date but changes announced at the Autumn Budget, which will be implemented from April 2026, look set to bring in even greater amounts over the remainder of the decade and beyond. "The removal of pension death benefits from inher...