The increase in the value of estates being inherited over the last five years is entirely due to property price inflation, UK private wealth law firm Boodle Hatfield has stated.

The value of residential property being inherited has increased by £6.9 billion in the last five years from £36.3 billion to £43.2 billion in 2016/17*. Over the same period the total gross value of assets being inherited has increased by just £5 billion from £75 billion to £80 billion in 2016/17.

Boodle Hatfield says property inflation has dragged more estates into IHT.

HMRC levied IHT against a record 28,100 estates in 2016/17, ...