The number of wealthy families claiming back inheritance tax has rocketed since the start of the covid-19 pandemic and the ensuing financial turmoil. 

According to a Freedom of Information request from Quilter, HMRC made 9,864 inheritance tax (IHT) repayments in the 2019-20 tax year — a 66 percent increase on 5,949 paid the tax year before.

The repayments allow executors to apply for IHT refunds on losses made on the sale of inherited securi...