Inheritance tax (IHT) receipts reached £4.39bn in the first half of the current financial year, HMRC has reported.

The Government’s tax collection agency revealed that this figure increased by £100m year-on-year between April and September.

In the year to April 2025, a record £8.2bn was collected in IHT, with the Office for Budget Responsibility (OBR) forecasting that another record is set to be reached in the current financial year to £9.1bn.

According to the OBR, this figure is set to surpass £14bn by the 2029/30 tax year.

Chief executive officer at Key Advice, Will Hale, said that the latest figures "continue a familiar trend" and highlight the Government’s "commitment to a tax raid" ahead of the upcoming Autumn Budget.

He added: "Given the well documented pressure on UK public finances, it is likely that the November Budget will see further tax measures introduced that will require careful consideration by customers and their advisers if financial plans, in life and in death, are to be fulfilled. This is no longer a problem just for the rich and all families should be seeking advice to understand potential implications and the options available to mitigate the impact."

Director at Just Group, Stephen Lowe, added: "Inheritance Tax continues to prove a treasure trove for the Chancellor. Rising asset prices, frozen thresholds and a tightening of the exemption regime are all combining to drive ever-growing receipts.

"The Treasury now looks set to collect a fifth consecutive record annual haul. With further reforms that were announced at last Autumn’s Budget yet to be implemented, we can expect this trend to continue and grow."

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