Inheritance tax (IHT) receipts totalled £2.2bn between April and June 2025, which is a £100m increase year-on-year, HMRC has revealed.

The new figure follows the fourth consecutive annual record haul of £8.2bn collected in 2024/25 tax year.

HMRC’s latest data comes after the Office for Budget Responsibility (OBR)’s most recent forecast, published in the Spring Statement, predicted another record year with IHT receipts set to total £9.1bn in 2025/26. This figure is expected to surpass £14bn by 2029/30.

The latest figures have been released as the Government announced that it will press ahead with plans to apply IHT to unused pension funds and death benefits from 6 April 2027, following a technical consultation.

Director at Just Group, Stephen Lowe, said: "Rising asset prices and frozen thresholds are combining in a pincer movement to drive consecutive record collections of IHT.

"This year’s data, alongside reforms to the system announced at the Autumn Budget, shows that this trend is only set to accelerate in the coming years. It means IHT is becoming an increasingly important revenue raiser for the Treasury amid creaking public finances.

"Anyone who is uncertain or concerned that their estate may be subject to Inheritance Tax should get an up-to-date valuation of their estate, including a recent assessment of their property wealth. Estate planning is complex and difficult – especially with tinkering to the rules – and many families who wish to manage their estate efficiently will benefit from professional financial advice."

---