HMRC’s Inheritance Tax (IHT) receipts for April 2021 to June 2021 are £1.5 billion, which is £0.4 billion higher than in the same period a year earlier.

This is a 33 percent increase year on year.

Ami Jack, head of national tax at Smith & Williamson, said this shows IHT collections are “starting to become more lucrative” for the Treasury.

“For some time there has been an expectation that an Autumn Budget was on the cards, which could have been an obvious time to introduce tax reforms to help pay for the cost of the pandemic. More recent rumours swelling around Westminster, however, suggest that a...