The government received a total of £8.2bn in inheritance tax receipts in 2024/25, the fourth consecutive annual record sum.

The figures for 2024/24 are £0.8bn higher than the same period last year and represent an increase of 10.8% on the same period of 2023/24.

Just Group director Stephen Lowe says: “It’s now four years on the trot that Inheritance Tax has delivered record-breaking annual tax takes for the Treasury, on the back of a combination of frozen thresholds and rising property prices. As the saying goes – death and taxes are the two certainties in this world.”

“This winning streak for the Treasury looks likely to continue for some time to come, with the changes announced at the Autumn Budget set to bring in even greater amounts over the rest of this decade and beyond.”

“Anyone who is concerned their estate may be subject to IHT should get an up-to-date valuation of their estate, including a recent assessment of their property wealth, to help them understand where they stand. Estate planning is complex and professional financial advice can be immensely helpful for people who want to manage their estate efficiently.”

Key chief executive officer Will Hale states: “The record-breaking IHT receipts sharpen the focus on the complexity of planning for IHT and retirement.”

“Death is increasingly lucrative for the HMRC but what is needed is a radical reassessment of the role property wealth can play in terms of funding later life living as well as contributing to intergenerational financial planning.”