HM Treasury gained £6.3 billion in Inheritance Tax (IHT) receipts in the 10 months to January 2024, according to HMRC data.

This is £400 million more than in the same period the year prior.

While just four percent of estates contribute to this sum, the proportion of families affected is higher, and many have argued the freeze on IHT thresholds combined with decades of increases in property prices is pushing the government’s inheritance tax-take on an upwards trajectory.